New Forests has acquired almost 91,000 acres of forest in Oklahoma, in the US South from Rayonier, Rayonier also sold 109,000 acres on the Olympic Peninsula in northwest Washington. Source: Timberbiz
This means that New Forests has expanded its portfolio in the US. The company already has forestry assets in California and has made investments in the Klamath River watershed.
The Trinity Headwaters Forest is an almost 11,000-acre property situated in northern California, and forms part of New Forests’ 265,000-acre Klamath Forest estate portfolio.
Its McCloud Forest is a 19,000-acre forest in the Mount Shasta region of California, made up of mixed conifers including true fir, Douglas fir, and Ponderosa pine
In the past New Forests acquired several forest properties in the Klamath River watershed, including the Hilt-Siskiyou Forest and the Trinity Headwaters Forest
New Forests said in a statement its new forest assets have a “wealth of biodiversity that includes recovering indicator species such as the American black bear.”
The new assets are located near other related industries such as sawmills and pulp and paper mills.
“This investment is well aligned with our underlying investment thesis that sustainable forest management in North America has the potential to deliver attractive investor returns,” Jeff Briggs, MD of North America at New Forests said.
“We believe a forest management strategy that sequesters additional carbon compared to past management practices while producing a sustainable supply of wood fibre, has the potential to be successful across the US, and in particular the US South, a geography that presents substantial opportunity for New Forests and our investors.”
