Chinese buyer of Cullen Fund forests keen on more acquisitions

Wed, 24 Apr 2013

By Paul McBeth April 24 (BusinessDesk) - China Forestry Group New Zealand, a subsidiary of state-owned China Forest Group Corp, is keen on mopping up more local forests after buying a chunk of estates from the New Zealand Superannuation Fund. The North Island forest estates are the first step in the Chinese company's strategy to invest in the local industry and look at other opportunities, it said in a statement. The general manager of China National Forests, Lin Zhan, expects the forestry investment will generate new jobs. "China Forestry...

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