According to the Ledger-Enquirer in Columbus, MWV is getting out of the forest management business in GA and AL. It is actively seeking buyers for 227,000 acres there plus an additional 63,000 acres in WV. An MWV spokesperson is quoted as saying that 35 people in the Forestry Division will be "affected" by the sale. You can read the article here. This morning Goldman Sachs raised its rating on MWV from a "sell" to a "buy" based on its land sales strategies. In the recent MWV news releases, a great deal has been "unsaid" about the future of MWV's SC mill and timberlands although there is certainly no shortage of rumors. MWV is also reportedly looking for a buyer for it's nursery and seed orchards.
On the other side of the nationwide acreage flip, "The Molpus Woodlands Group, LLC, a timberland investment management organization, headquartered in Jackson, Mississippi, has completed the purchase of approximately 44,379 acres of timberland located in LeFlore and Pushmataha Counties in southeastern Oklahoma on behalf of an institutional investor. The transaction closed on January 25, 2007." Molpus now manages 557,000 acres in the South.
Read the entire news release.
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