Article
Futuris to cut plantings
Philip Hopkins in The Age of April 6, 2009
FUTURIS Corp has signalled it will slow its expansion of short-rotation plantations due to the danger of oversupplying the export woodchip market. Chief executive Malcolm Jackman said continually buying new land and planting short-rotation trees was not in the best interests of the industry, otherwise “we will create a long-term oversupply of woodchips for exports”. This would put downward pressure on the price of woodchips, he told BusinessDay. Mr Jackman said Australia’s current plantations estate “is about as much as we need”. Futuris would still maintain its big stake in Tasmanian group, Forest Enterprises Australia, he said. The full story can be read: Here