Sino-Forest Corporation
Sino-Forest Corporation is a leading commercial forest plantation operator in China. Its principal businesses include the ownership and management of forest plantation trees, the sale of standing timber and wood logs, and the complementary manufacturing of downstream engineered-wood products.
See more information about Sino-Forest Corporation
Sino-Forest in long-term tree acquisition deal in Jiangxi Province
Sino-Forest Corp (TSX: TRE), a commercial forest plantation operator in China, said its wholly-owned subsidiary Sino-Panel (China) Investments Ltd has entered into an agreement to buy pine and Chinese Fir plantation forests with Jiangxi Zhonggan Industrial Development Co Ltd, which will act as the authorized agent for the original plantation rights holders.
Under the deal, Sino-Panel will acquire 15-18 million cubic metres of wood fibre located in plantations in Jiangxi Province over a three-year period with a price not to exceed Renminbi300 per cubic metre.
In addition to securing the maximum tree acquisition price, Sino-Panel has pre-emptive rights to lease the underlying plantation land at a price which is not to exceed Renminbi450 per hectare per annum for 30 years from the time of harvest. The land lease can be extended to 50 years.
Other Sino-Forest Corporation news
- Sino-Forest shares surge 40% after US-based fund takes 11.5% stake
2011-07-04 - Sino-Forest responds to Globe and Mail article, calling it "incorrect"
2011-06-20 - Sino-Forest grows fourth quarter profit by 52%
2011-03-16 - Sino-Forest ups holding in Omnicorp to majority stake
2010-06-23 - Sino-Forest acquires engineered wood production and research business in China
2010-01-12
