Rayonier has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberland located in Texas, Georgia, Alabama, and Louisiana for an aggregate purchase price of $474 million from Manulife Investment Management.
News in timber
Old-Growth Logging in British Columbia Drops to Record Low
The British Columbia provincial government on Wednesday provided an update on the Old Growth Strategic Review. According to the latest numbers, old-growth logging in BC has decreased to the lowest level on record.
After Hurricane Fiona’s Destruction, Prince Edward Island Government Addresses Needs of Private Woodlot Owners and Forest Industry
On Friday, the province of Prince Edward Island (PEI) announced that in the wake of Hurricane Fiona’s unprecedented impact, the government has formed a task force to address the immediate needs of private woodlot owners and the forestry industry.
State Court in Jefferson County, Washington, Rules Against DNR Timber Sales
On Wednesday, a Jefferson County Superior Court judge ruled against the Washington State Department of Natural Resources, in a case the plaintiffs say will have wide implications on how the agency manages state forests.
Oregon Board of Forestry Approves Changes to the Forest Practice Act
At a special board meeting on Wednesday, the Oregon Board of Forestry approved more than 100 changes to the Forest Practice Act. The approved changes will impact timber harvesting activities on more than 10 million acres of private and non-federal forests in the state.
Timberland Investment Resources Europe Seeks $250 Million for Forestry Funding in the US
Timberland Investment Resources Europe (TIR) has announced that it is seeking to raise US$250 million for a sustainable forestry and natural capital fund which will investment in US assets. The “Sustainable Forestry & Natural Capital Fund” will focus on investment mainly in the southern region of the US.
US National Interagency Fire Center Wildfire Update for October 24th: 8 of 32 Partially Contained
The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US has been reduced to 32 from last week’s report of 72. More than 463,512 acres are currently burning across 8 different states.
BlueSource Sustainable Forest Co. Buys 29,019 Acres of Forestland in Michigan
Bluesource Sustainable Forest Co. announced today that it has purchased 29,019 acres of forestland in Michigan from The Lyme Timber Company. The land will be part of 90+ North American forest carbon projects covering over 4-million acres.
EU Timber Regulations Scheduled to be Replaced
Research from iov42, the London-based company that has created a computer platform for traceability in the timber supply chain, has found that timber importers across Austria, Belgium, France, Italy, and the UK are troublingly unprepared for the upcoming change in EU regulations.
Could Plastic Packaging Someday be Replaced by Wood-Based Products?
With both wildfires and petroleum-based plastics currently affecting life on earth and significantly adding to greenhouse gas emissions, the US Forest Service’s Forest Products Laboratory is invested in one solution for both by developing recyclable: next generation packing materials made from wood.