10 October 2006
Trees A Treasure
New Zealand First is concerned that the proposed sale of Carter Holt Harvey forests to a single American timber
investment group may be able to occur without Overseas Investment Commission permission.
“The proposed sale of the 250,000 hectare estate to a single American buyer is anathema to New Zealand First, and to all
New Zealanders who care about the protection of New Zealand jobs and land ownership,” said Forestry spokesperson Doug
Woolerton.
“The ability of Carter Holt Harvey to circumvent the involvement of the OIC by selling its shareholdings in the 100 or
more individual companies that own the leases is a clear example of the ineffectiveness of the commission to step in
when it matters.
“Challenges by Maori leaseholders look like being the only avenue remaining to keep at least some of the earmarked
forests in New Zealand hands.
“New Zealand First believes that foreign investment must be in the interests of New Zealand. The private interest of
foreign shareholders is not our concern, the public interest of New Zealanders is.
“If it was up to us, our forests would not have been sold off in the first place, but unfortunately, with 70% of our
forests in foreign hands, the horse has well and truly bolted.
“We can only hope that the major players in the industry focus on growing the resource and not stripping it bare,” said
Mr Woolerton.
ENDS