TimberWest and Island Timberlands announced they have signed an affiliation agreement to share roads, co-ordinate safety and stewardship and align best practices. Photo submitted

TimberWest and Island Timberlands sign affiliation agreement

Private forestry companies to share roads and co-ordinate stewardship

Two forestry companies that control huge swaths of Vancouver Island have signed an affiliation agreement.

TimberWest and Island Timberlands announced Thursday an agreement that will see them share roads and other infrastructure, align best practices and co-ordinate stewardship.

According to identical press releases issued by the two parties, they will continue to be stand-alone companies with no change in ownership, but will share “corporate services.”

TimberWest and Island Timberlands will share roads, sort yards and other infrastructure, “enhance forest health” by aligning stewardship and silviculture practices, and share a “best practice approach to watershed, ecosystem, species at risk and visual quality management.”

The companies say the affiliation will also improve safety outcomes and expand recreation access and trail connections.

“As affiliated companies, TimberWest and Island Timberlands can each do more to plan and invest for the future of a stable and competitive coast forest sector,” said Jeff Zweig, TimberWest CEO, in the press release.

The companies say “no significant changes” are expected to harvest levels or workforce, and say both will continue to process logs.

“This new affiliation will position both companies for long-term success under strong Canadian ownership to the benefit of our many stakeholders and the communities where we live and work,” said Darshan Sihota, Island Timberlands president, in the press release.

According to the companies’ websites, TimberWest has 325,400 hectares of private forest land on Vancouver Island and Island Timberlands has 254,000; together, they control about one-fifth of the Island’s total area.

TimberWest is owned by British Columbia Investment Management Corporation (BCI) and the Public Sector Pension Investment Board, while Island Timberlands’ limited partners are BCI and investing entities managed by Alberta Investment Management Corporation.

READ ALSO: Island Timberlands closes public access to privately owned forests amid wildfires

READ ALSO: Forest company and First Nation move ahead together



editor@nanaimobulletin.com

Like us on Facebook and follow us on Twitter

Just Posted

Descoteau’s mother, girlfriend reflect on tribulations of murder trial

Friends a strong support system in getting through testimony details

Two men caught trying to steal thousands in merchandise from Duncan Canadian Tire

RCMP got a call from the store manager who was watching live footage of one man inside the store.

Two boats reported in trouble in Cowichan Bay on Dec. 13

Coast Guard responds, but finds only one vessel that required assistance

Strong winds to hit B.C.’s south coast

Western regions may see winds of up to 80 km/hr

‘Are we going to play?’ Alberta boy with rare illness no big deal for classmates

Porter Stanley is one of 30 people in the world to be diagnosed with Beare-Stevenson syndrome, a craniofacial disorder.

Man rescued from sinking boat off the coast of Vancouver Island

Mayday call came into Coast Guard saying vessel had taken on water, BC Ferries dispatched to scene

Publication ban on name of girl killed in Abbotsford school lifted

Reimer’s family had supported an application by Black Press to lift ban

B.C. securities regulator probes ‘most expansive’ alleged trading scheme in its history

Liht Cannabis Corp states it’s doing internal investigation, welcomes BC Securities Commission probe

Air passenger rights: 6 things about what the Liberals are offering

For 3- to 6-hour delays, compensation is $400. Between 6 and 9 hours, $700. Over 9 hours is $1,000

RCMP, civilian vehicles rammed in North Okanagan incident

Police attempt to stop truck near Enderby, thought to be tied to alleged Salmon Arm armed robbery

New biker gang with ties to Hells Angels crops up in Lower Mainland

The Street Reapers were formed late last year and have been seen in Fort Langley.

Man exposes himself to woman waiting for bus in Campbell River

Police responded to a complaint that a male had exposed himself to… Continue reading

10-lane George Massey bridge too big, B.C. study says

Consultants say replacement tunnel cost similar to new bridge

Most Read