Foresta parts ways with managing director Ray Mountfort

Foresta was attracted to NZ by its abundant timber resources. (Image: DepositPhotos)

Thu, 25 Jul 2024

Ray Mountfort suddenly resigned as managing director of Foresta, an Australian Securities Exchange-listed company planning to build a biomass plant in Kawerau.Mountfort has spent many years developing and commercialising novel timber processing technology, some of which he had developed before joining Foresta Group.He has been the MD of the group since December 2020.Mountfort was replaced as a director on July 12 by Russell Allen, who was described as a businessman, entrepreneur, and investor with more than 40 years of experience across a range...

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