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ITC aquires Ausron assets

INTEGRATED Tree Cropping (ITC) has agreed to terms for the acquisition of the forestry related assets of the Ausron group for $14 million. The purchase will add more than 7,000 hectares of freehold land in Western Australia, Victoria and Queensland to ITC, in addition to facilitating the transfer to West Perth-based ITC of management rights over nine managed investment schemes, with a total area of 11,600ha. ITC is one of Australia’s largest hardwood plantation forestry managers, with almost 120,000 plantation hectares under management across all mainland states. Following its merger with the Neville Smith Group in September 2004, ITC is now also the country’s largest timber processor, and the second largest integrated forestry company listed on the Australian Stock Exchange.

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