Plantation company Cathay Forest Products Corporation is planning to add 20,000ha of fast-growing poplars to its portfolio in China.
The aggressive planting programme is being made possible by a recent injection of capital.
Cathay, which has offices in Canada, Hong Kong and Shanghai, planted 8,000ha of poplar trees during the second quarter, bringing its total landholding to 10,800ha in China. It also harvested trees in a small-scale trial in preparation for an extensive harvesting programme.
Its revenue for the second quarter totalled £13,821 from the sale of standing timber in the northern province of Heilongjiang. Net loss for the period was C$754,000.
Cathay, which had no operations in 2004, has been focusing on buying new property and establishing joint ventures and strategic relationships.
