Willmott Forests launches new forestry investment in wake of Timbercorp collapse
Agribusiness company Willmott Forests has launched a new forestry investment fund, Premium Timberland Fund, and sought to reassure its investors on the health of the company in the wake of the collapse of Timbercorp and Great Southern’s trading halt.
In a statement released to the market, Willmott said the issues facing Timbercorp and Great Southern had caused some market uncertainty and an increase in enquiries from investors in the agribusiness company. Uncertainty in the health of the other agribusiness companies forced Willmott to release an early update on the state of its forestry operations.
The company told investors that the land it has secured for investment projects was in line with regulation requirements, has been in accordance with best practice standards, and has a long history of successful plantation management and protection. The company reported that it would establish more than 11 hectares of new plantations by the end of June to cope with its 2008 woodlot sales and is maintaining extra land for woodlot sales in 2009.
The Timberland Fund provides diversified investment in the sector via rental income from rural land, harvest income from its African mahogany plantation, and capital growth in land value. It has been awarded a four-star rating from the Australian Agribusiness Group.
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