Elders sells 3,200 hectares of timber propertiesFriday 24 May 2013 Elders has sold 3,200 hectares of timber property in north Queensland to the country’s largest banana grower for AU$10 million, The Australian Financial Review reported on 13 May. The purchase of the teak tree properties Gold Tyne and Mount Ray outside Cooktown was at a discount of about 40%, according to the news story, a version of which also appeared in Queensland Country Life.Forestry operations are classified as a discontinued operation by Elders, which recently sold AU$29 million-worth of Indian Sandalwood projects on behalf of managed investment schemes for which Elders Forestry Management was the responsible entity, The Australian Financial Review reported.
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