TimberWest and Island Timberlands to affiliate
August 14, 2018 By Kristina Urquhart
August 14, 2018 – TimberWest Forest Corporation and Island Timberlands Limited Partnership have agreed to work together to provide for shared use of facilities, coordinate best practices standards and enhance forest stewardship.
Both timberland companies will continue to stand alone, but will share their corporate services.
The affliation will allow TimberWest and Island Timberlands to:
- optimize logistics through the use of shared roads, sort yards and infrastructure;
- enhance forest health through coordinated stewardship and silviculture across adjacent private timberlands;
- create an integrated best practice approach to watershed, ecosystem, species at risk and visual quality management;
- plan a commitment to seek extension of the Progressive Aboriginal Relations certification administered through the Canadian Council for Aborginal Business;
- improve safety outcomes by applying best practices across both operations;
- expand recreational access, trail connections and campsites; and
- continue ongoing investment in forestry research and innovation, including an existing commitment of up to $10 million over five years to the Digital Technology Supercluster, a consortium of companies involved in telecommunications, natural resources, computing, etc.
“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 TimberWest CEO Jeff Zweig.
Island Timberlands president Darshan Sihota said, “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.”
The affiliation is subject to customary closing conditions, including approval under the Competition Act (Canada).
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