Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

OneFortyOne intends to purchase Manuka Island forest estate

OneFortyOne announces intention to purchase Manuka Island forest estate


13 September 2018


Australian forestry company, OneFortyOne (OFO) has announced its intention to purchase the Manuka Island forest estate in the Wairau Valley near Blenheim. The proposed purchase is now being reviewed by the Overseas Investment Office.

The Manuka Island estate is approximately 2000 hectares of forest and currently owned by Merrill and Ring. Manuka Island will be integrated and managed as one forest estate by Nelson Management Ltd, the management company for Nelson Forests.

“The Manuka Island acquisition reflects our intention to continue to invest in the regions where we have an established presence. The acquisition complements our recent purchase of Nelson Forests and is a great fit for their estate,” says OFO’s Chief Executive Officer, Linda Sewell.

“Manuka Island will be a natural extension of our existing operation,” says Lees Seymour, Managing Director of Nelson Management Ltd. “We are excited about the employment and regional economic development opportunities that the proposed purchase will provide for Marlborough, in addition to our strong existing presence at Kaituna Sawmill and through our forest activities in the region.”


ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: