Amazonas Florestal, Ltd. has purchased 5 rural properties in the municipality of Borba, State of Amazonas, Brazil. These 5 properties will add approximately 25,000 acres to Amazonas land holdings and will increase the Company's timber inventories by approximately 5%. The addition of these properties brings the Company's total land holdings to more than 100,000 acres, as Amazonas Florestal said in the press release received by Lesprom Network.
Mr. Bruce W. Barren, CEO, stated, " The acquisition in Borba represents an important addition in our sustainable management projects in that once licensed and approved for harvest in 2015, it can potentially add 440,000 cubic metres of tropical hardwood trees to our present inventory and supply upwards of 22,000 cubic metres yearly on a 20 year plan to local mills. We have signed an intent to lease a major production mill in the adjacent area next year that would have the capacity to process the full amount that could become available once the SFMP (Sustainable Forest Management Project) in these lands are approved which we anticipate to take place in the second quarter of next year."