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

Port Alberni’s West Coast Rangers hold rendezvous

Three-day event featured historical re-enactment

Port Alberni Port Authority talks logistics for cruise ship visit

Some restrictions for pedestrians, boaters will be in place

Port Alberni’s ‘Army of Problem Solvers’ to the rescue

Facebook group gathers people who just want to help their neighbours

Hurricane Katrina inspires Alberni author’s new novel

Jacqueline Swann brings message of climate change to life with story of fictional journalist

Port Alberni RCMP searching for missing teenage girl

16-year-old Lasheena Seward was reported missing from a group home on May 9

600 new campsites coming to provincial parks and recreation sites across B.C.

Tourism Minister announced half of the new spots to 13 most popular provincial parks

B.C. Supreme Court dismisses judicial review around ferry workers’ right to strike

B.C. Ferry and Marine Workers’ Union collective agreement expires November 2020

Municipalities protest after B.C. declares marijuana crops ‘farm use’

UBCM president seeks answers in letter to John Horgan government

CMHC defends mortgage stress test changes amid calls for loosening rules

Uninsured borrowers must now show they could service their mortgage if rates rose two per cent

B.C. woman left ‘black and blue’ after being pushed off 40-foot cliff at lake

West Shore RCMP looking for witnesses as investigation continues

Thunderstorms to bring heavy rain, risk of flash floods in the southern Interior

Ten to 30 millimetres of rain to fall over the early weekend

Unbe-leaf-able: Agassiz man finds more than 200 four-leaf clovers in a month

Walt Hardinge has found more than 219 four-or-more leaf clovers this spring alone

Crews fight fire with fire to keep blaze from northern Alberta town

The wildfire now covers some 920 square kilometres

Man in B.C. charged with murder and arson in 2016 New Brunswick death

He is charged in the death of 71-year-old Lucille Maltais, who was found inside a burned down home

Most Read