Domtar has sold 42,249ha of timberlands in upstate New York for US$23.7m.
The Lyme Timber Company of Hanover, New Hampshire has purchased 33,993ha and the Nature Conservancy bought 8,093ha. The New York State Department of Environmental Conservation is expected to buy a conservation easement covering the Lyme Timber holding.
Lyme has pledged to maintain the Forest Stewardship Council (FSC) certification status of its new timberlands, while a long-term supply agreement will ensure FSC material will continue to be delivered to Domtar’s facilities.
Domtar decided to sell the land in Adirondack because it no longer met the company’s strategic land ownership goals for its core paper manufacturing business.
