Australian real asset manager New Forests has launch the Tasmania-based integrated timber plantation, forest management, and timber export company Forico Pty Ltd. Forico has been established as New Forests and KordaMentha have completed the sale of the ex-Gunns Tasmanian forestry estate and has been established to manage the 175,000 hectare forestry estate and its associated operations. Forico’s plantation includes 100,000 hectares of sustainable timber plantation mostly comprised of Eucapyptus nitens, a nursery, two mills, and a wood fiber technology laboratory. The operation will exemplify a new business model and will control the entire chain from nursery production of seedlings, to plantation management, to woodchip production and sales. Sydney, Australia-based New Forests controls Australia’s largest timber investment portfolio managing investments in excess of A$2.5 billion across 500,000 hectares of forests, rural land holdings and conservation as well as the Timberlink Australia processing business.
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