TimberWest acquires more land

Strategic land acquisition

TimberWest acquires more land

Strategic land acquisition

The sale of over 18,000 acres of land between two forest company giants does not mean the land will be put on the real estate market.

TimberWest Forest Corp. announced that it has agreed to acquire 7,678 hectares (18,973 acres) of private timberland on southern Vancouver Island from Western Forest Products Inc. for $21.9 million.

The property is in the Jordan River/Shirley/Port Renfrew area.

“The lands are highly productive forest lands and TimberWest will manage them for their timberland value to the same high standards of safety, sustainability and environmental management it applies throughout its land base,” said company spokesperson Sue Handel in an email response. “The company does not plan on subdividing or selling the land for real estate values.”

Closing is subject to customary conditions. This will bring TimberWest’s total land holdings to 327,678 hectares (809,973 acres) on Vancouver Island. Western Forest Products will use the proceeds from the sale to pay down debt.

“We are very pleased with the addition of this highly productive timberland adjacent our existing lands on southern Vancouver Island,” said Paul McElligott, TimberWest President and CEO. “This acquisition complements our core business strategy of managing forests for 
long-term sustainability and assuring a steady and continuing flow of high quality timber.”

The premium species mix and age class distribution of this land makes it a great complement to the company’s managed forest lands on Vancouver Island. TimberWest will manage this land for its timberland value.

As the Island’s largest private forest land owner, TimberWest recognizes the importance of good land stewardship and is committed to managing this new acquisition to the same high standards of safety, environment, and sustainability it has achieved throughout its land base.

TimberWest Forest Corp. is uniquely positioned as western Canada’s largest private timber and land management company. The company owns in fee simple approximately 319,000 hectares or 787,000 acres of private land and is in the business of selling timber products and real estate.

Just Posted

Kenny Podmore, here seen at Sidney’s cenotaph in November, says he feels for the veterans after organizers had to cancel an event acknowledging Victory in Europe (VE) Day for the second time in as many years because of COVID-19. (Wolf Depner/News Staff)
North Saanich event marking 75th anniversary of VE-Day cancelled

Sidney resident first planned event for May 9, 2020 moved to May 8 before being cancelled

Individuals and businesses are encouraged to bring their unwanted electronics to Tillicum Centre May 14 to be shredded, recycled or donated. (Black Press Media file photo)
Greater Victoria residents can shred, donate electronics safely

Vancouver Island Better Business Bureau hosts event May 14 at Tillicum Centre

Scheduling popular summer events like the Canada Day celebrations is difficult due to the pandemic. (File - Sooke News Mirror)
Sooke summer events schedule clouded by COVID

Public health guidelines hamper plans

The District of Sooke is looking at new plans to build a fenced dog park at Ponds Park Corridor. (Pixabay.com)
Sooke seeks input on dog park

Public comment welcomed until June 4

Potatoes have two genetic centre of origins, one from the lowlands in Chile and the other from the highlands in Bolivia. The highlands potatoes flower and produce fruit profusely, which is where the seeds come from. They contribute to exciting and ecologically imporant genetic diversity of potatoes. (Submitted/Fiona Hamersley Chambers)
Metchosin farmer shares how to invent a new potato

Using seeds anyone can name their own variety

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

Chilliwack’s Kile Brown, performing as drag queen Hailey Adler, dances and lip syncs in front of hundreds of people during the inaugural Chilliwack Pride Barbecue at the Neighbourhood Learning Centre on Aug. 24, 2019. Monday, May 17 is International Day Against Homophobia, Transphobia and Biphobia. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of May 16 to 22

International Day Against Homophobia, Talk Like Yoda Day, Sea Monkey Day all coming up this week

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
MISSING: Salt Spring RCMP find woman’s car, still seek Island resident

Sinikka Gay Elliott is 5’3” with a slim build and dark brown short hair

A Saanich man received almost 10 years in Supreme Court in Courtenay for a shooting incident from 2018. Record file photo
Shooting incident on Island nets almost 10-year sentence

Saanich man was arrested without incident north of Courtenay in 2018

Bradley Priestap in an undated photo provided to the media some time in 2012 by the London Police Service.
Serial sex-offender acquitted of duct tape possession in B.C. provincial court

Ontario sex offender on long-term supervision order was found with one of many ‘rape kit’ items

Rich Coleman, who was responsible for the gaming file off and on from 2001 to 2013, was recalled after his initial testimony to the Cullen Commission last month. (Screenshot)
Coleman questioned over $460K transaction at River Rock during B.C. casinos inquiry

The longtime former Langley MLA was asked about 2011 interview on BC Almanac program

Steven Shearer, <em>Untitled. </em>(Dennis Ha/Courtesy of Steven Shearer)
Vancouver photographer’s billboards taken down after complaints about being ‘disturbing’

‘Context is everything’ when it comes to understanding these images, says visual art professor Catherine Heard

Trina Hunt's remains were found in the Hope area on March 29. Her family is asking the public to think back to the weekend prior to when she went missing. (Photo courtesy of IHIT.)
Cousin of missing woman found in Hope says she won’t have closure until death is solved

Trina Hunt’s family urges Hope residents to check dashcam, photos to help find her killer

Most Read