12 November 2012
More than 4000 hectares of Marlborough land has been sold during the past two months as Asian timber processors move to secure log supplies. Information from the Overseas Investment Office (OIO) shows that SCFNZ Ltd, owned 100 per cent by South Korean company Sunchang Corporation, has been given consent to buy 2894.88 ha of forest at Northbank, near Blenheim. The company makes plywood, fibreboard and lumber for commercial and industrial purposes.The other sale was of 1330.99 ha of Waihopai land to Timbergrow Ltd, owned by members of the Malaysian-based Tiong family, to plant in trees. The Tiong family has other forestry land in Marlborough and also owns Earnslaw One, another forestry company.
Marlborough forest industry sources said there was a lot of interest in larger forests from Asian companies with links to processing plants seeking to ensure log supplies.
Source: Marlborough Express article by Cathie Bell. To read the full story, click here.