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Forever Beech Limited

Forever Beech Limited

The West Coast Development Trust is pleased to announce it is making a major investment in the development of one of the West Coast’s natural resources.

In conjunction with the developers of the Forever Beech brand, the Trust, through Forever Beech Limited, is increasing its investment to $3 million into the continued development of the Beech industry, started in the name of Forever Timber Group.

The Forever Timber Group started with the simple concept of developing Beech timber as a replacement for Rimu and other native New Zealand timbers. Timber is sourced solely from privately owned forests with approved sustained yield management plans. Where possible, processing is carried out using West Coast facilities and people.

The Trust’s role in the development of the industry has been to bring to the project the necessary financial resources required to assist with the long term development of the resource, and to bring in a high level of business and governance experience to enhance the existing skill base within the current operation.

Four very experienced company directors have been appointed to the Board of the new Company, with their make-up reflecting the serious intension of all concerned to continue the successful establishment of this new industry.

The Board will be made up of Messrs Peter Coakley, John Donaldson, Sid McAuley and Peter Cox. Mr Bruce Irvine will be the alternate director for Mr Cox.

Mr Coakley is a consultant and company director who had a career spanning 24 years with Carter Holt Harvey Ltd. He has vast experience in the timber industry, including being the former General Manager of Canterbury Timber Products.

Mr McAuley is a company director and entrepreneur, owning a number of successful private companies and has particular experience in the transport and contracting industries.

Mr Donaldson is a long established West Coast businessman with sawmilling, added-value processing, forestry and retailing interests. His experience in indigenous timbers is of direct relevance to the ongoing development of the Beech industry.

Mr Cox is a professional director who currently sits on a number of private and public company boards and his governance and financial strength complete the appropriate Board mix. His alternate will be Mr Bruce Irvine, a senior partner of Deloittes Touche Tomatsu

Forever Beech Limited will have at its disposal the financial resources necessary to meet the medium term market development of Beech as an alternative New Zealand native hardwood, and to invest in processing enhancements if necessary.

Developing industry based around the West Coast’s wealth of natural resources and people has been identified as one of the key components to the ongoing success of the West Coast as a region. The Trust, in making this investment, recognised all these components were present as was a universal desire to see this industry established and used as the catalyst for further downstream processing opportunities.

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