Saturday, April 21, 2007

TimberWest selling some prime Vancouver Island land

Seems that land on Vancouver Island is becoming more valuable as real estate, than as managed forest land. If you are in the business of forest products, what does it say when you are willing to sell off over 10% of the land you use for growing trees?

TimberWest is the province's largest landowner, with 334,000 hectares, mostly on Vancouver Island. The company conducted a strategic review of its property in 2006 and identified 38,000 hectares of forest lands -- an area more than three times as large as the City of Vancouver -- that have greater value as real estate.

Full story here:

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