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TimberWest Forest turns to real estate
Posted on June 17, 2008
With lumber selling for less in recent quarters than the cost of producing it, the few Canadian companies with a forest ownership stake have begun searching out other ways to make money in the woods. For TimberWest Forest Corp., the answer has been clear: real estate. As it turns out, some of those woodlands make awfully nice places to live so nice, in fact, that RBC Capital Markets analyst Paul Quinn estimates it is likely worth more than $800-million, over $150-million higher than previously estimated. TimberWest has some outstanding Vancouver Island properties, he wrote in a r...
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