Properties
Cambium has leasehold interest in two properties on the big island of Hawaii. These assets are unique US-domiciled tropical forest investments. Conditions for forestry in Hawaii are favorable due to high rainfall, volcanic soils and the location in the middle of the Pacific Rim markets.
The combined property is 11,646-acres with an 8,146-acre eucalyptus grandis plantation. Cambium does not own the underlying land and has entered into a secure leasehold agreement with Kamehamaha Schools and Parker Ranch two of Hawaii's largest landowners. The property includes over 2,400 acres of intact native forest with significant biodiversity value. The Hawaii assets will not be certified since we cannot control land use after the leases expire.
It is expected that harvesting of the maturing plantations will begin in 2013. The timber is currently being marketed for export to log markets in Asia. There are also opportunities for the development of bio-energy facilities that would require wood as a fuel source for the generation of electricity. Hawaii currently has the highest electricity prices in the US and significant policy targets for expansion of renewable energy production.
