The Alberta Investment Management Corp., the British Columbia Investment Management Corp. and the Public Sector Investment Board have closed a previously announced plan to conglomerate their long-term timber investments.
Originally announced in August 2018, the agreement affiliates timber investments TimberWest Forest Corp. and Island Timberlands Ltd. Partnership. Moving forward, the two organizations will continue as standalone companies, but share facilities and corporate services.
The benefits for the move include improved logistics through the use of shared roads, sort yards and infrastructure, enhanced forest health through coordinated stewardship and integrated best practice approaches to managing the watershed, ecosystem and species at risk, according to a press release.
TimberWest was first acquired by BCI and PSP in 2011, while AIMCo and BCI have been limited partners in Island Timberlands since 2005.