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ITC signs Japanese sales agreement

INTEGRATED Tree Cropping has signed a woodchip sales agreement with Sojitz Corporation of Japan under which the first seven years worth of wood-fibre harvest from ITC’s Albany region operations will be exported to Japan from midway through this year. The Perth-based company said the agreement was worth more than $200 million at current plantation timber prices. ITC manages a total plantation area of 120,000 hectares, which the company expects to produce in excess of 20 million green metric tonnes of wood.

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