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

Sewage leak closes sterilizing room at Victoria General Hospital

Royal Jubilee equipment sharing means no VGH surgeries cancelled

VIDEO: Victoria writer and filmmaker turns her mental illness into mental strength

Mental illness robs Victoria woman of happiness from age 10

Thieves target Sooke school’s emergency supplies

Journey middle school victims for a second time

The last day before legalization: what local dispensaries are doing

Some local dispensaries are shutting down, while others are planning big celebrations

HarbourCats Foundation hosts inaugural Halloween Costume Ball Fundaraiser

The Victoria HarbourCats Foundation scares up its inaugural Halloween Monster Mash Costume… Continue reading

VIDEO: 41 years later, author publishes story he wrote at 6 years old

Troy Wilson originally created Captain Otter while in Grade 1

Advance voting begins Oct. 10 in Greater Victoria

The polls open at 8 a.m. for the 2018 municipal election with the general election taking place Oct. 20

Find your future at Black Press career fair in Victoria

More than 70 booths expected at Bay Street Armoury on Oct. 25

Canada Post union issues strike notice; rotating strikes could begin Monday

Union says rotating strikes will begin if agreements aren’t reached with bargaining units

Duncan play faces challenges even before first performance as thieves strike

Thefts hamper Deathtrap days before opening at Mercury Theatre

Carole James avoids questions on B.C.’s payroll tax (with video)

Green MLA Adam Olsen cites huge tax increase for local business

Killer-rapist Paul Bernardo set for parole bid after 25 years in prison

Bernardo’s parole hearing at the Bath Institution is expected to attract numerous observers

Feds aiming to select preferred design for $60B warships by end of month

Defence insiders say the government wants to select a design by the end of the month from among three options submitted by several of the largest defence and shipbuilding companies in the world.

B.C. city wants control over its cannabis advertising rules

Without a say, towns and cities risk Washington-State-style flood of advertising, proponent says

Most Read