Redwoods for King Country farmland
Wednesday 5 Sep 2018
The $7 million purchase north of Taumarunui, near Matiere, by The New Zealand Redwood Company (NZRC) was approved by the Overseas Investment Office in July.
The venture was likely to create six full-time jobs and increase New Zealand's export returns because the bulk of the timber will be exported to the United States in a processed form, the OIO consent said.
Taupo-based NZRC was formed in 2001 by the Soper Wheeler Co of California, a 100-year-old forestry firm. NZRC specialises in redwoods, which are the world's tallest trees and are found naturally in a coastal strip in Oregon and California. It has so far planted 3000ha of redwood and intends to keep establishing forests in New Zealand.
NZRC chief executive Simon Rapley said the company plans to plant redwoods on 650ha, retain the 270ha of native forest and leave the balance in pasture on the sheep-beef farm.
Source: Stuff News
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