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

Parkland musical theatre lights up the stage with Grease

North Saanich school stages show Jan. 30 to Feb. 2

City of Victoria endorses potential class action lawsuit against fossil fuel giants

Data will be gathered to quantify how much environmental damage the city has faced

Toronto Arrows players take aim at youth rugby clinic

Juan de Fuca team offers get acquainted clinics

‘Blue Monday’ isn’t real, but depression can be

CMHA encourages people to prioritize their mental health

Braves host 2019 Prospects Game, Saturday at Pearkes

Campbell River to host VIJHL All-Star Game, Sunday

UPDATE: B.C. legislature managers accused of excessive travel, personal expense claims

Clerk Craig James, security chief Gary Lenz call allegations ‘completely false’

B.C. man fined $10,000 after leaving moose to suffer before death

Surrey man was convicted last week on three Wildlife Act charges

POLL: Should people have to license their cats?

The Victoria Natural History Society has sent letters to 13 municipalities in… Continue reading

Greater Victoria Crime Stoppers wanted list for the week of Jan. 15

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Anti-pipeline group wants NEB to consider impact of emissions, climate change

Stand.earth filed NEB motion asking to apply same standard to the project as it did with Energy East pipeline

B.C. man charged in 2014 snake venom death of toddler

Henry Thomas was taking care of the North Vancouver girl the day before she died

B.C.’s largest public-sector union wants inquiry into money laundering, drugs

Union officials say Premier John Horgan and Attorney General David Eby have not ruled out the possibility of a public inquiry

Teen in confrontation with Native American: I didn’t provoke

Nick Sandmann of Covington Catholic High School said he was trying to defuse the situation

Suspect allegedly armed with handgun robs Island gas station

Incident occurred Sunday night in Nanaimo

Most Read