FRA Welcomes Island Timberlands' Commitment to Forestry
Seattle, WA, July 13, 2011 -- Canada-based Island Timberlands' decision to keep 99 per cent of its land on Vancouver Island for forestry use, has been welcomed by Forestry Research Associates (FRA).
The research and advisory consultancy said it was pleased to hear that the business is dedicated to maintaining its 200,000 hectares of land on the island for forestry use. The firm’s manager of sustainable timberlands, Morgan Kennah, said that the firm had no intention of changing its mandate and that its core business is forestry and the sustainable production of timber.
Ms Kennah attributed this decision largely to the increasing demand for timber products and raw materials, particularly from markets in Asia, such as China and India. Japan is also a nation that is seeking to buy up timber as a raw material for the rebuilding process following March’s devastating earthquake and Tsunami. She explained, “The company is experiencing an upswing in international markets for timber so people shouldn't think the forest industry is finished on Vancouver Island. We have no intentions of turning Island Timberlands into a land development company."
FRA analyst Peter Collins said, “FRA welcomes the news that Island Timberlands remains committed to forestry as its main industry. It realises that the market for timber is growing and that moving away from forestry at a time when timber prices are rising would be foolish.”
FRA did, however, add that it was disappointed in Island Timberland’s decision to look into moving away from forestry on its land at Cedar. Instead it is considering a 217-hectare development. The business claims that it is looking into the development because it considers the Cedar site to be an urban interface zone.
Ms Kennah said, "We have a small team that look for opportunities for our lands other than for forestry, and the proposal for the development in Cedar is certainly one of the more showcase projects that we have embarked on.”
FRA said that maintaining the land in Cedar as forestry could bring in more returns than the development. Mr Collins stated, “Forestry investment firms like Greenwood Management and Robina Invest have shown that there are major gains to be made through sustainable forestry investment at the moment."
Canada-based Island Timberlands' decision to keep 99 per cent of its land on Vancouver Island for forestry use, has been welcomed by Forestry Research Associates (FRA).
Forestry Research Associates
620 Vineyard Lane
Bainbridge Island, WA 98110
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