Cayman Islands-owned Mangakahia Forest lists harvest by 60 percent , sales up 35 percent

Tue, 28 May 2013

May 28 (BusinessDesk) – Greenheart NZ Forestry, the Northland forester whose ultimate owner shifted from failed Sino-Forest Corp to a Cayman Islands based company this year, has lifted its annual harvest by 60 percent and sales by 35 percent, its 2012 accounts show. Greenheart operates the 13,000 hectare Mangakahia Forest, which it acquired from former parent Sino-Forest in 2011 for US$73 million in shares and debt. It was among assets transferred from Sino-Forest to Cayman Islands incorporated Emerald Plantation Holdings as part of a Canadia...

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