Sonoco Products Company Sells 55,000 Acres of Timberland in South Carolina
Sonoco Products Company, a global packaging company, announced on Thursday (4-6-23) that it has sold approximately 55,000 acres of timberland located in South Carolina to Manulife Investment Management on behalf of its client for the sum of $72 million.
According to a statement from Sonoco CEO Howard Coker, “Sonoco produces paper exclusively from recycled fiber and no longer requires natural tree fiber for production.”
Manulife Investment Management is a timberland and agricultural investment manager which sustainably manages approximately 6 million acres worldwide.
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