
OneFortyOne, a leading forestry and sawmill business, announces
the acquisition of the former New Forests managed Limestone
Coast plantation forestry estate.
OneFortyOne CEO Wendy Norris said the acquisition represents the
first investment in forestry of this scale by an Australian
company, in the past decade. “We are thrilled to expand our
Green Triangle, Australian plantation forestry estate by 15%,
adding close to 15,000 hectares of plantable area,” Wendy said.
The acquisition includes approximately 14,800 hectares of mixed
hardwood (Bluegum) and softwood (Radiata Pine) plantation
resource or plantable area, within a total of 20,500 hectares of
associated freehold land in the Green Triangle region and in
Western Australia. New Forests has invested in the Limestone
Estate since 2014, and the sale forms part of its Australia New
Zealand Forestry Fund 2’s divestment process.
SFM, the current property manager of this asset, will continue
to provide hardwood and carbon-related management services to
OneFortyOne, across the estate for the foreseeable future.
OneFortyOne’s strategic decision to acquire the Limestone Coast
estate is aimed at potentially securing domestic sawlog supply
well into the future. “We are planning decades into the future
and are focused on supporting our domestic customers by looking
at ways to increase supply of sawlog,” Wendy explained.
“This potential optionality of converting hardwood to softwood
plantation estate, from short to long-term tree rotation, could
provide additional certainty for domestic sawmill manufacturing
and support domestic processing.”
OneFortyOne is a vertically integrated trans-Tasman wood fibre
company. It owns and operates sustainable softwood forests and
innovative sawmills in Australia and New Zealand.
Source: onefortyone.com