An Australia-based timber company announced plans to purchase 170,000 acres of Northern California forest from Oregon-based Roseburg Forest Products for an undisclosed sum.
The Australian firm, New Forests, intends to transfer the land to a subsidiary, Shasta Cascade Timberlands LLC. The area, described as stretching from Redding to Mount Shasta, is made up of stands of Douglas fir, ponderosa pine and other conifers.I
n a statement, the company said it supports sustainable management practices, and intimated that the decision would enable it to generate revenue by earning state carbon credits.
Roseburg, in a statement, said its veneer plant in Weed is not part of the sale.