Matariki forests to be retained by current shareholders

Friday 31 July 2009, 10:16AM
By Matariki Forests

The sale process of Matariki Forests has concluded with the shareholders making the decision
to retain the assets.

Paul Nicholls, Managing Director of Rayonier New Zealand Ltd forest managers for Matariki,
said the sale process attracted strong interest from a broad range of parties.

“However the shareholders believed that the continued weakness in the capital markets created
uncertainty around funding.

“They remain committed to Matariki Forests and are confident about future growth opportunities
for the NZ forestry sector particularly with the signs of improvement in the global timber
markets,” concluded Nicholls.
Editors note
*Matariki Forests is owned by a consortium and managed by Rayonier New Zealand, a subsidiary of
Rayonier Inc