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Fenning Pacific (Fiji) Limited

Fenning Pacific (Fiji) Limited ("Fenning Pacific") was incorporated in Fiji on 17 June 1994.  The principal activities of its subsidiaries, The Pacific Lumber Company Limited and Timbers (Fiji) Limited are timber harvesting, saw milling, kiln-drying, retail, wholesale and export of Fijian indigenous timber. The Fenning Pacific Group has attained a place as the premier native hardwood processor in the southern island of Fiji, Viti Levu and the second highest processor of native sawlogs in Fiji.

On 15th December, 2004 the directors of OGL announced to the ASX the proposed strategic shift in business activities from timber harvesting, sawmilling, kiln-drying and down-stream processing to commercial cultivation and development of tropical hardwood plantations.

Rationale for OGL’s Strategic Shift to Hardwood Plantation
The rapid depletion of natural forests and growing ecological concerns already has a significant impact upon the supply of tropical hardwoods. Even as the harvesting of natural wood becomes increasingly limited, demand for timber continues to increase rapidly from year to year.

The worldwide demand for FSC-certified tropical hardwoods harvested from managed forest plantations is growing rapidly. OGL has identified managed forest plantations as a significant resource and financial growth area. These plantations will yield a sustainable supply of high quality FSC-certified tropical hardwood planted and harvested in well managed and ecologically friendly as well as acceptable conditions.

With proper supervision these plantations will be able to enter into long-term agreements to meet demands for a variety of industries. Moreover, hardwood plantations will be able to take advantage of advances in biotechnology that will enhance timber farming and its spin-offs. Hardwood forestry farming, scientifically managed and supervised, is an emergent area that is likely to yield financial rewards that are both sustainable and profitable.

Forest Management Strategy
OGL will either acquire or lease on a long-term basis afforested and suitable lands, which satisfy quality assessments by qualified professionals and forest management consultants. These forest professionals and consultants will inspect and assess the plantation lands prior to any application being made to the relevant Authorities for their approval.

Throughout the life of the plantations, OGL will engage fully qualified professionals to carry out essential forest and land management tasks which will all times be governed by the objective of maximizing returns to OGL. OGL will manage its tropical hardwood plantations on a sustainable basis and will seek certification by the Forest Stewardship Council (FSC) in regard to its forest management practices.



 

 

 

 

 

 


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