Cathay Forest Products has grown its markets in Russia and Japan with two new agreements.
Through its DalEuroles joint venture, of which it owns 51%, Cathay has secured the rights to an additional 400,000ha of standing timber on a 49-year lease in the Khabarovsk Province, Russia.
This is on top of the existing 271,000ha that it currently operates and signals the company’s “commitment to the Russian forest industry”, according to chief executive officer Anthony Ng.
Cathay has also announced a distribution deal with Marubenti Corporation, which will give it greater access to the Japanese market.
Marubeni will sell, market and distribute roundwood and other wood products on behalf of Cathay, giving it a “foothold in the Japanese wood products market”, added Mr Ng.
