Canadian Railroads > CIC buys Vancouver Island timber properties

The Chinese investment firm CIC has agreed to purchase about $100 million ($C) of forest land on Vancouver Island from Brookfield Asset. The move is seen as a continuation of Chinese government strategy to buy assets which are both resistant to inflation and also serve as diversification for China's trove of currency. The move may help continue employment and logging (and logging railroad activity) on the island.

In recent months CIC has purchased an interest in the company that operates Heathrow airport in the UK, as well as other cash producing interests.

The health of the forestry companies in Vancouver Island has been closely tied to export markets in recent years, so this investment is very positive for continued employment and activity

Any numbers or percentages of Canadian Lumber going to China? Is it or will it be milled dimensional lumber or just raw logs loaded on the ship and off they go?
tia.

TCnR Wrote:
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> Any numbers or percentages of Canadian Lumber
> going to China? Is it or will it be milled
> dimensional lumber or just raw logs loaded on the
> ship and off they go?
> tia.

nothing in the article, but the local press and Vancouver papers will probably dig deeper into exactly what's involved

Any chance of a link to the article? There is nothing in the "news" section of Brookfield (formerly Bascan) website.
Thanks in advance

Will MacKenzie
Dundas, ON

thehighwayman Wrote:
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> Any chance of a link to the article? There is
> nothing in the "news" section of Brookfield
> (formerly Bascan) website.
> Thanks in advance


This link should be free, as the WSJ is offering 24 hours of free access due to the US elections.

Let me know if it doesn't work for you

http://blogs.wsj.com/canadarealtime/2012/11/06/wsj-cic-close-to-signing-timber-deal-with-brookfield-sources/?KEYWORDS=vancouver

Lackawanna484 Wrote:
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> This link should be free, as the WSJ is offering
> 24 hours of free access due to the US elections.
>
> Let me know if it doesn't work for you
>

Thanks ... got it okay!
I am a bit concerned because much of the timberland concerned may be around my hometown on Vancouver Island.
Too much timber is already being shipped overseas, instead of to local sawmills.

Will MacKenzie
Dundas, ON