BOSTON (January 16, 2018)—The Hancock Timber Resource Group (HTRG) has completed the acquisition of approximately 12,250 hectares of timberlands in central Chile.
“The majority of these lands were established several decades ago as timber plantations and contain an extensive infrastructure network and thriving plantations. These are high quality assets that have been managed to supply hardwood fiber to Chile’s growing export chip market,” said Hancock Timber Resource Group President Brent Keefer, “We are very pleased to add these productive timberlands to our clients’ portfolios.”
The timberlands were acquired from Forestal Tierra Chilena Ltda. a limited liability company established by Mitsubishi Corporation and Mitsubishi Paper Mills Limited in 1990 to develop timberlands in Chile and provide fiber to Mitsubishi Paper Mills Limited.
The lands are located in the Bio Bio and Araucania Regions of Chile which are known for their productive soils and deep timber markets.
This is the company’s second acquisition in Chile. In 2014, HTRG acquired approximately 62,000 hectares of timberland through a joint venture with MASISA S.A., a Chilean forest products company. With this latest acquisition, HTRG manages approximately 75,000 hectares of timberland in Chile and 2.4 million hectares globally.
About the Hancock Timber Resource Group
The Hancock Timber Resource Group, founded in 1985, is a division of Hancock Natural Resource Group, Inc., a unit of Manulife Asset Management Private Markets. Based in Boston, it manages approximately 5.9 million acres of timberland in the United States, Brazil, Chile, Canada, New Zealand and Australia on behalf of investors worldwide. Additional information about Hancock Timber may be found at www.hancocktimber.com.