New West Coast forestry partnership for Ngai Tahu Holdings

Friday 26 Jul 2024

 
Ngāi Tahu Holdings is pleased to announce it has agreed to sell a 35-year cutting right of its West Coast Plantations to a new joint venture comprising Fiera Comox (85 percent) and Ngai Tahu (15 percent). The whenua is not included in the sale, which is only for a single rotation of cutting rights, whereafter the forests return fully to Ngāi Tahu ownership.

The investment marks the initial acquisition by Fiera Comox’s Global Sustainable Timberland Strategy, which invests in high-quality, private forests globally. The Timberland Strategy is led by a team of highly experienced professionals who have acquired over two million acres of timberland in transactions representing several billion dollars in value.

Both organisations say the move is positive for the region, with Fiera Comox bringing global expertise to a significant industry for Te Tai o Poutini (the West Coast).

Ngāi Tahu Holdings Chief Executive, Todd Moyle, welcomes the partnership. “We’re looking forward to building a successful long-term relationship with Fiera Comox, which has an established track record of working with Indigenous groups in both Aotearoa and Canada.”

Antoine Bisson-McLernon, Partner and CEO, Fiera Comox, commented. “We are delighted to have the opportunity to partner with Ngāi Tahu in one of the most attractive and globally competitive softwood producing regions in the world."

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Source and image credit: Ngāi Tahu Holdings via Scoop


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