US timber management company Hancock Natural Resource Group has bought the right to cut one rotation on 40,000ha of land in the central North Island, New Zealand.
Hancock, which has been looking to do business in the country for a decade, purchased the rotation for the Tarawera and Matahina forests from the Kiwi Forests Group. The land was formerly owned by Fletcher Challenge Forests.
The company said it invested in New Zealand because the country provided diversification, with much of the timber industry based on export, including high-quality products going to North America.
