| On 3rd November 2010, Greenheart Group announced its intention to acquire a New Zealand softwood plantation called the Mangakahia Forest, an area of approximately 13,000 hectares of freehold land with a net harvestable area of approximately 11,000 hectares of high quality radiata pine plantation. This forest is located in the Northland region, the second largest plantation region in New Zealand with some of the highest growth rates in the country as a result of favorable climate, fertile soil and year-round rainfall. Radiata pine is characterized by its high density and stiffness, and the Mangakahia logs can be used to produce high-value sawlogs which are suitable for structural lumber fabrication and engineered wood products. |
