Thursday, 11 April 2002, 3:19 pm Press Release: Citic
April 11, 2002
Statement made by Sun Xinguo, Managing
Director, CITIC Forests ( NZ ) Ltd
Contrary to
speculation, CITIC does not have a back up offer in place
should Fletcher Forests not execute the purchase of the
assets of the Central North Island Forest
Partnership.
CITIC was a party to discussions with the
receiver over the future of CNIFP’s 190,000ha forestry
assets.
However, it has no agreement with the receiver or
knowledge of a backup
agreement.
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