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 OLYMPIA, Wash., Sept. 15 /PRNewswire/ -- The Hancock Timber Resource Group, a major timber owner/manager for institutional investors, announced it has acquired its first property outside the continental United States.
 Mason Browne, regional forester for Hancock's timberlands in the West, said the company today acquired Brenda Bay, a 32,777-acre (13,270 hectacres) tree farm from Shieldings Inc. of Toronto. The transaction was for an undisclosed amount of cash.
 The property is near the village of Lake Cowichan on Vancouver Island, British Columbia. Virtually all the timber on the tract is second growth Douglas-fir and hemlock.
 "This is an important step in balancing our overall timber portfolio," Browne said. "Combined with major U.S. holdings in the Northeast, South and West, this acquisition adds diversity and depth to our clients' investments.
 "We look forward to doing business in Canada and becoming a good neighbor in Cowichan."
 Court Washnburn, Hancock Timber's senior forest economist, said, "Returns for timberland in different regions tend to move in different directions over time, so by combining investments in various regions, including those outside the U.S., we can create a portfolio with more stable returns.
 Richard N. Smith, a founder of Hancock Timber Resource Group and director of portfolio management, said, "An important part of our management philosophy is to be able to form strategic alliances and partnerships with the various entities within the entire industry of land management and to find common ground in what they need and what we need for our clients."
 The Hancock Timber Resource Group is a working partnership between John Hancock Financial Services based in Boston and three premier forestry management companies, Resource Management Services in the South, Wagner Forest Management in the Northeast and The Campbell Group in the Pacific Northwest. The Campbell Group, which facilitated this transaction, will be managing the new acquisition. The firm is recognized as the top timber management firm in the Pacific Northwest with expertise in managing timberland investments for pension funds, trusts and individuals.
 The Hancock Timber Resource Group is committed to an environmentally sound timberland management program, Browne said. The organization's tree farms are carefully managed under long-term management plans that keep large tracts in production for the forest products industry while providing strong investment returns for clients through good stewardship practices.
 "By custom and policy, Hancock is committed to being a good steward of the land," Browne said. "We welcome community comment on our land management practices and we believe in managing all the resources of the land, not just the timber," he added.
 He said the company's goal is to operate its properties on a sustainable yield basis, where harvests are offset by growth over a 10-year period. Hancock also practices aggressive reforestation, with several trees planted for every one harvested.
 The Boston-based unit of John Hancock Financial Services is the United States' largest owner/manager of timberland assets for institutional investors, with two million acres in the Northeast, South and West.
 -0- 9/15/93
 /CONTACT: John Davis, 206-705-4150, or Pam Kruh, 617-572-0558, of Hancock Timber Resource Group; or Bob Sundmacher of The Rockey Co., 206-728-1778, for Hancock Timber Resource Group/

CO: Hancock Timber Resource Group; Shieldings Inc. ST: Washington IN: PAP FIN SU: TNM

JH-RB -- SE004 -- 2107 09/15/93 09:31 EDT
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Publication:PR Newswire
Date:Sep 15, 1993

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