Published: 27 June 2005
US company International Paper Ltd has told its New Zealand forestry subsidiary, Carter Holt Harvey Ltd, it’s exploring “strategic alternatives” for its 50.5% stake. International Paper indicated the process was at an early stage and should be completed by the end of the year. Carter Holt said it was premature to speculate on any outcome.
Carter Holt will continue with the proposed sale of its non-strategic forests with International Paper’s full support.