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3 Sensational Ultrahigh-Yield Dividend Stocks That Make for No-Brainer Buys in the 4th Quarter (and Beyond)
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Is It Smart to Buy Stocks With the S&P 500 at an All-Time High? History Provides a Clear Answer.
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1 Bargain-Basement Stock-Split Stock to Buy Hand Over Fist in the 4th Quarter and 1 Highflier to Shy Away From
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1 Unstoppable Vanguard ETF to Confidently Buy With $350 Heading Into 2025
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Billionaire Ken Griffin Loaded Up on This High-Yield Dividend Stock. Should You?
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China Is Looking Like a Hot Investment Again. Look Before You Leap In.
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Planet Labs’ Forest Carbon Monitoring system
Planet Labs PBC, a provider of daily Earth data and insights, has released its Forest Carbon Monitoring product, consisting of quarterly, 3-metre resolution measurements of forests globally. Source: Business Wire This new product offers partners and customers an unprecedented dataset to support voluntary carbon markets, regulatory compliance, and deforestation mitigation. “The climate crisis is the biggest challenge humanity faces in the 21st century, yet our greenhouse gas emissions are still rising,” said former US Vice President Al Gore. “Planet’s Forest Carbon Monitoring system is an important tool that helps the world monitor, protect, and manage one of the important resources in absorbing carbon from the atmosphere — our global forests. This kind of information is vitally important to governments, scientists, and advocates working to safeguard humanity’s future.” This quarterly dataset estimates aboveground carbon, canopy height, and canopy cover over the entire Earth dating back to 2021, setting a new standard for monitoring forest growth and change. Forest Carbon Monitoring equips stakeholders with a cost-effective way to monitor forested areas, scaling from a single tree to the entirety of the Amazon rainforest. In order to measure forest carbon stocks, stakeholders typically use ground measurements, fly expensive airborne missions over select areas, or pay for temporally and spatially patchy satellite data. But by leveraging Forest Carbon Monitoring data built using Planet’s extensive archive of PlanetScope imagery and a global library of airborne and spaceborne LiDAR data, with processing by AI users can derive precise, scalable, and affordable measurements without sacrificing scientific rigor. Achieving this level of granularity at a consistent cadence is indispensable for emerging voluntary carbon markets and governments. For countries implementing policies to reduce deforestation and sequester carbon, establishing an accurate baseline to quantify the current state of their forests is a critical step. Then they can draw on Forest Carbon Monitoring data to track changes and assess policy impact and effectiveness. “To protect our planet and preserve its resources, we have to value carbon and nature into our economy. Step one is measurement. To date we faced the choice between tape measures around tree trunks, which is accurate but not scalable, or inaccurate global systems. Planet’s forest carbon data is meant to fix that gap: scalable and precise forest carbon data, at the individual tree level, updated quarterly,” said Planet CEO and co-founder Will Marshall. “We believe this dataset will underpin global carbon markets — a multi-trillion-dollar transition.” Forest Carbon Monitoring can be leveraged by companies aiming to comply with the new EU Deforestation Regulation (EUDR). Measuring tree canopy and carbon stock change of sourcing regions can help mitigate and track any commodity-driven deforestation risks. And in the case of EUDR, ensuring compliance can help companies avoid fines and help jurisdictions sustainably maintain agricultural exports. Planet partner, BeZero Carbon, a global ratings agency for carbon markets, gained exclusive early access to the Forest Carbon Monitoring product and has leveraged it to further enhance its carbon ratings methodologies. With the 3-metre resolution dataset, BeZero’s carbon ratings offer insights with increased granularity and spatial accuracy. Last year, BeZero was also the first partner to utilize Planet’s Forest Carbon Diligence product, an archive of 30-metre resolution forest carbon data going back as far as 2013. Leveraging both of Planet’s Forest Carbon products — the deep archive of data and the high-resolution monitoring data — BeZero’s customers can better manage risk in their investments and closely track the performance of carbon projects. “Tackling climate change requires significant investment in carbon projects. BeZero Carbon’s 80-strong science team interrogates these projects using the most timely and complete data possible, so that investments can be made with a clear view of credit quality,” said Dr. Phil Platts, VP of Geospatial and Earth Observation at BeZero Carbon. “Planet’s Forest Carbon Monitoring product is the first and only dataset delivering high cadence, global forest carbon estimates at 3-metre resolution. That level of granularity can make a big difference for monitoring forest intactness, management practices, or scattered trees on farmland. “We rate hundreds of projects, of all kinds, all over the world. Doing so requires an enormous range of data, which we evaluate and combine project by project. Having Planet data in the mix is incredibly helpful, and we are using it to detect individual trees, right up to jurisdictional accounting.”
Categories: Forest Products Industry
Mountain Future Awards nominations open
From food insecurity, climate change and biodiversity loss, to lack of access to services, gender inequalities, poverty and outmigration, the world’s mountain regions today face major global challenges. Source: Timberbiz A new generation is gearing towards innovative solutions and new strategies to increase the resilience of mountain communities and conserve mountain environments. In celebration of International Mountain Day 2024, the Food and Agriculture Organization of the United Nations (FAO) is inviting institutions and individuals over 18 to submit proposals for transformative projects that contribute to a sustainable tomorrow for mountains, for a chance to win the 2024 Mountain Future Award. Project submissions should emphasize the following areas: Innovation – Innovation should be a key aspect of the project proposal. This could encompass technological (including digital), social, policy, financial, and/or institutional innovations that address complex social, economic and environmental challenges in mountains. Adaptation – Project proposals should promote climate adaptation. This could include adaptation strategies tailored to mountain ecosystems and communities, resilient agrifood systems, climate smart agriculture, ecosystem-based approaches to natural resource management, the integration of Indigenous knowledge systems or traditional techniques, and the promotion of circular economy. Youth – The active, meaningful participation of youth in decision-making is essential for ensuring the long-term sustainability of mountain solutions. Project proposals should emphasize youth leadership, such as being youth-led and/or youth-focused, promoting universal and accessible training for young persons in mountains, and empowering young people to be agents of change through digital technology, research and entrepreneurship opportunities that contribute to the conservation and sustainable use of mountain resources. Submissions will be judged by a panel of mountain experts from FAO and the Mountain Partnership. The Mountain Future Award will be presented to the three best project proposals during the official International Mountain Day event. Along with international recognition, the three awardees will each receive seed funding of US$5000. The winning proposals will also receive project incubation assistance from the FAO Mountain Partnership Secretariat. Project proposals will be assessed by an expert jury on the following criteria: Impact on mountain communities through promoting climate adaptation, conserving mountain biodiversity and ecosystems and/or enhancing food security and/or reducing disaster risk. Innovative aspects of the project, level of innovation, including technological (including digital), social, policy, financial, and/or institutional innovation, application and feasibility of the innovative aspects. Involvement of youth to contribute to a sustainable future in mountain areas. Eligibility Applicants may be individuals or institutions. Applicants must be the original creators of the original project proposal they submit. Eligible proposals can include those for new projects and projects in the initial planning stages. Projects that are already being implemented are not eligible for the Award. The closing date for submissions is 30 October 2024. You can submit your project proposal in English, Spanish or French via the online form. If you experience trouble using the online form, please submit your proposal via email to the IMD team at Info-IMD@fao.org. The application form should be followed when submitting project proposals. Those awarded will be notified via email and invited to the International Mountain Day event in December 2024 where the award ceremony will take place.
Categories: Forest Products Industry
FSC appoints new director general
The Forest Stewardship Council has appointed Dr Subhra Bhattacharjee as the new Director General, effective 1 October 2024. Source: Timberbiz Subhra Bhattacharjee brings more than 20 years of experience in public policy and programming in climate change and sustainable development, having worked closely with governments, NGOs, academia, and the private sector worldwide. She has worked for the United Nations, and prior to that for the Reserve Bank of India, with a brief stint in academia. Dr Bhattacharjee holds a Master of Philosophy in economics from Jawaharlal Nehru University, and a Doctor of Philosophy in economics from Iowa State University. “Subhra’s expertise and experience in international development and leadership will serve her well as she steps in at this critical juncture in FSC’s organizational growth,” Stuart Valintine, Chair of the FSC International Board of Directors said. Dr Bhattacharjee’s ambitious vision aligns with FSC’s mission and future goals, aiming to leverage its membership, network and collaborative partnerships to strengthen global forest stewardship for protection and sustainable management of the world’s forests. “It is an honour and a privilege to join FSC as Director General,” Dr Bhattacharjee said. “We must act urgently to mitigate the ongoing global climate and biodiversity crises, and the conservation, restoration, and sustainable use of forests with respect for forest-dependent communities is critical for this. In this context, today FSC’s mission and role are more relevant than ever. I look forward to working with the whole FSC community and partners to maximize the contribution of forests to sustainable development.” Dr Bhattacharjee’s appointment brings new perspectives and energy to the organization, opening the next chapter in FSC’s mission to promote responsible management of world’s forests and securing their long-term resilience.
Categories: Forest Products Industry
NZ forestry not to blame for Smithfield meatworks closure
A group that represents the owners of New Zealand’s commercial plantation forests disputes that forestry is one the reasons behind the proposed closure of the Smithfield meatworks. Source: Radio New Zealand (RNZ) Alliance Group told staff on Friday it planned to fully close its meat processing plant in Timaru, with Federated Farmers saying land use change was to blame with farms being converted into carbon forests at alarming rates. The New Zealand Forest Owners Association (NZFOA) said the area of production forestry across the country had decreased in the last 20 years, but Beef + Lamb New Zealand said focusing on total forestry area overlooked the impact of recent land-use change on the sector. Statistics from Te Uru Rākau – New Zealand Forest Service show there was 1,696,604 hectares of forestry across the country in 2019. The total area had grown from1,176,614 in 1990 peaking at 1,827,339ha in 2003 but had fallen since then, with the same trend observed in Canterbury. Agricultural and horticultural land use data from Statistics NZ showed while the area devoted to sheep farming nationally had decreased over time (5,779,173ha in 2002 to 4,101,801ha in 2019), it remained higher than the total production area of forestry. Meanwhile, the area of land devoted to dairy in the region had increased over the same period (1,230,484ha in 2002 to 2,221,459ha in 2019). Forest Owners Association acting chief executive Brendan Gould said those statistics did not show forestry was responsible for the reduction in sheep farming nor the closure of regional meat works, given forestry was on the decline in Canterbury and at its lowest point in a decade. “Forest planting currently still hasn’t reached the levels it was at in the early 2000s …and from a plantation forestry estate, we are still 70,000ha smaller than we were 20 years ago.” He said land use change was likely having an impact, but it was not just forestry that was responsible. “In Canterbury, the area devoted to dairy has increased significantly over the last decade and that aligns with some of the feedback that we have been getting from our forest owners that afforestation rates have declined due to landowners prioritising land use towards pastoral farming.” Gould said the organisation was saddened to hear of the proposed Smithfield closure,which highlighted the pressure being felt across the primary industry sector, evident given the recent closures of the two Winstone Pulp International mills near Ohakune and the Oji Fibre Solutions mill in Auckland. “Much of New Zealand’s food and fibre sector is hurting right now with reduced export demand, increased regulation and compliance costs, staff shortages and also some of highest power prices in the OECD.” He said forest owners were supportive of integrated land use approaches where farming and forestry co-existed. “We certainly support landowners having the right to make decisions about how they use their land to their benefit.” Meanwhile, Beef + Lamb New Zealand chairperson Kate Acland said an analysis of farm title sales since 2017 showed nearly 300,000ha of sheep and beef whole farms were sold to be converted into forestry. “We know that for every 100,000ha of productive sheep and beef farmland sold, just under one million stock units are displaced and effectively gone from the sector.” Statistics NZ’s latest figures shows that New Zealand sheep numbers have declined since 2017 by 12% (3.2 million). “While there may have been less conversion in Canterbury, there has been significant conversion in parts of Otago and the ripple effects of land use change has consequences for capacity in the supply chain for each island.” Acland said despite the reduction of land area in forestry production since 2003, it was unlikely to go back to being farmed for sheep and beef, so the focus on land-use change was justified. She said the impact of the Emissions Trading Scheme (ETS) on land-use change since the government signalled it was going to lift the cap on the carbon price was clear as prior to 2018, only a few thousand hectares of sheep and beef farms were sold to forestry each year. In 2017, 7000ha of sheep and beef farms were sold to forestry and preliminary figures for 2022 showed that had increased to over 70,000ha. “While the returns over a 30-year period between sheep and beef farming and forestry alone are quite similar, the ETS price significantly distorts forestry returns and therefore how much forestry can pay for sheep and beef farmland.”
Categories: Forest Products Industry
Home market is strengthening according to HIA
Market confidence in new home building has strengthened in recent months, as investors and owner occupiers return to the market. Source: Timberbiz The Australian Bureau of Statistics yesterday released its monthly building approvals data for August 2024 for detached houses and multi-units covering all states and territories. “Detached house approvals rose by 0.6% compared to July. House approvals in the three months to August 2024 were 11.2% higher compared to the same time the previous year,” HIA Chief Economist Tim Reardon said. “The steady increase in detached house approvals is offsetting a low volume of multi-unit approvals and total dwelling approvals in the three months to August 2024 were 5.0% higher compared to same time in the previous year. “Rising tax imposts on foreign investors and rising regulatory costs are compounding the challenges for apartment builders,” Mr Reardon said. “It has been almost eleven months since the last increase in the cash rate. Stable interest rate settings have provided the certainty needed to see a rise in home building confidence. “This is complemented by stabilising price growth for building materials, a return to normal build times, strong housing demand and low unemployment.” Detached house approvals in Perth and Brisbane were faring much better than in Sydney and Melbourne. Confidence in the Melbourne new home market had been adversely impacted by two new taxes. “The Australian Government cannot tax its way out of achieving the agreed national target of 1.2 million new homes,” Mr Reardon said. “Recent discussions on negative gearing and capital gains tax arrangements for residential property will undermine confidence in new home building. “The government’s focus should be on lowering the taxes, regulatory costs and excessive charges that make up as much as 50% of the final cost of a house and land package. House approvals over the three months to August 2024 increased by 47.5% in Western Australia compared to the same time in the previous year. This was followed by Queensland (+19.7%), South Australia (+10.0%) and Victoria (+8.4%). The other jurisdictions recorded a decline over the same period, led by the Australian Capital Territory (-18.6%), followed by Tasmania (-17.8%), New South Wales (-7.6%) and the Northern Territory (-6.8%).
Categories: Forest Products Industry
Amazon CEO Andy Jassy Faces Employee Revolt Over Full-Time Return To Office Mandate, 73% Consider Quitting: Survey
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ForestSAT conference attracts international experts from NASA
A global forestry event attracted experts from NASA and remote sensing specialists from nearly 30 countries to Rotorua in September. Source: Timberbiz Crown Research Institute Scion hosted ForestSAT 2024, the most prestigious international conference on the application of remote sensing technologies for forest monitoring and modelling. The 10th edition, held in Australasia for the first time, united more than 300 specialists over five days. Scion’s general manager for Forests to Timber Products, Dr Henri Bailleres, says the conference was a chance for forestry practitioners to hear the latest research, and for scientists to share their knowledge and learn from each other. “The diverse representation underscores the conference’s global appeal and its role as a critical platform for addressing international forest monitoring challenges using advanced remote sensing and geospatial technologies.” Dr Bailleres adds the presence of experts from NASA provided a unique opportunity for New Zealand-based users of remote sensing tools and technology to engage with world-leading agencies. At the official opening of the conference, Rotorua Mayor Tania Tapsell said it was exciting to see the industry come together, and she thanked Scion for its contributions to Rotorua which she described as the centre of excellence in forestry and wood processing. Tapsell reiterated the importance of networking and encouraged delegates to use the time to explore positive opportunities. In his opening address conference chair Dr Michael Watt, a principal scientist at Scion, also encouraged attendees to network to grow together as a community, and to collaborate with others to push the boundaries of what is possible in forestry remote sensing. The conference included 44 general and special sessions, around 220 presentations and 37 posters covering topics ranging from groundbreaking missions to emerging areas. “The diversity of the special sessions showcases the breadth of innovation and critical challenges we are addressing in our field,” Dr Watt said. The conference featured two keynote speakers, including Dr Crystal Schaaf, a Professor Emeritus and Research Professor in the School for the Environment at the University of Massachusetts Boston. Dr Schaaf has been involved in two NASA satellite missions for more than 25 years. The second keynote was Pablo J. Zarco-Tejada, a Professor in Remote Sensing in the faculties of Science and Engineering, University of Melbourne. Data analyst Melanie Palmer was among 10 Scion staff who delivered presentations, with many more who faciliated sessions, attended workshops and contributed to the overall success of the international conference. Ms Palmer updated attendees on the progress of Forest Insights, a prototype for a new interactive tool that provides the forestry industry with powerful inventory information. Developed by Scion in collaboration with Indufor Asia Pacific, Forest Insights leverages deep learning and high-resolution imagery to identify and map forests. This precision is crucial for understanding the composition of New Zealand’s forests, including small-scale forests. The AI model can accurately differentiate between various tree species, including Radiata pine, Douglas-fir and eucalypt, making it a powerful tool for forest managers seeking to monitor specific species across regions. Forest Insights started last year by mapping forests in the East Coast and Bay of Plenty. The prototype is on track to have the North Island fully mapped soon, with parts of Northland, Auckland and Wellington the only regional areas outstanding. With radiata pine less prevalent in the South Island, the next phase will focus on expanding the dataset to include other exotic species, ensuring forest monitoring across the entire country. The integration of LIDAR will provide even more detail, allowing for more comprehensive canopy insights. In a wildfire-focused research session, Dr Laura Kiely from Scion’s Fire and Atmospheric Sciences team, provided an overview of wildfires in New Zealand. She highlighted the importance of smart firefighting, using data and models to predict and suppress fires sooner. The New Zealand Wildfire Risk Map research project underway at Scion aims to create a spatial map of wildfire risk, incorporating ignition probability and fire spread models. The team’s goal is to run 500,000 model simulations to develop a better understanding of wildfire risk that covers all of New Zealand. Once developed, it will be useful for landowners, environmental managers, Fire and Emergency New Zealand and councils. During a field trip conference participants also got to see technology in action with demonstrations of how organisations, such as Interpine Innovation, are using backpack-mounted LIDAR scanners to capture data and create 3D duplicate views of forests.
Categories: Forest Products Industry
FWPA’s new Data Dashboard to provide comprehensive data, insights and forecasts
Forest & Wood Products Australia has launched the new FWPA Data Dashboard, an essential tool designed to empower Australia’s forest and wood products industry with access to crucial data, insights and forecasts. Source: Timberbiz This innovative platform, available as a complimentary benefit exclusively to full levy-paying FWPA members, provides a wealth of new information aimed at enhancing decision-making and driving business success across the industry. “The new dashboard represents a significant upgrade, offering a more advanced platform that enhances usability and functionality,” said Erick Hansnata, Statistics and Economics Program Manager at FWPA. “With a wealth of new data series added, the new FWPA Data Dashboard is designed to empower our members and industry in their business planning and decision-making processes.” Key features of the new FWPA Data Dashboard: Macroeconomic indicators: Gain insights into GDP and GVA trends, enabling informed economic strategies. ABARES Australian Forest and Wood Product Statistics: Access the latest, detailed data specific to the Australian forestry sector. FWPA’s softwood data series: Stay ahead with regularly updated industry statistics. International forest production and sustainability data: Understand global production metrics and sustainability initiatives Monthly trade activities data and forecast: Stay updated with export-import data and forecasts specific to wood products Building activities data and forecast: Receive insights on current and projected building activities in the sector Detailed research and analysis: Benefit from regular highlights and updates provided by FWPA’s Statistics and Economics team. “The FWPA Data Dashboard includes forecast data and comprehensive market analysis, equipping our members with the insights needed to navigate the dynamic landscape of the forest and wood products industry,” FWPA CEO Andrew Leighton said. “The platform is designed with future growth in mind, ensuring that we can expand its capabilities based on the evolving needs and interests of our members and the wider industry.” In addition to its exclusive complimentary availability to full levy-paying members, FWPA will soon introduce a subscription feature, offering FWPA Associate members and other interested users access to the new dashboard for a reasonable annual fee. FWPA’s public data dashboard will continue to be publicly available via the website. FWPA’s commitment to enhancing industry competitiveness and sustainability through innovation, research, and reliable data remains at the core of this initiative. By equipping members with powerful data insights, the FWPA Data Dashboard ensures better decision-making, driving growth and productivity across the sector. Learn more: https://fwpa.com.au/news/introducing-the-new-fwpa-data-dashboard/ and https://fwpa.com.au/data-dashboard-member-login/
Categories: Forest Products Industry
Tas FPA welcomes new Bill that will protect jobs and communities
Tasmania’s peak forestry industry body, the Tasmanian Forest Products Association, has welcomed the release of a draft Private Senator’s Bill by Tasmanian Senator Richard Colbeck yesterday. Source: Timberbiz The Environment Protection and Biodiversity Conservation (EPBC) Amendment (Reconsideration of Decisions) Bill 2024 aims to introduce limitations on time frames allowed for reconsideration of EPBC decisions, and limits those who may seek reconsideration after a period of three years. TFPA Chief Executive Officer Nick Steel said the Bill will protect jobs and regional economies across Tasmania by giving businesses certainty when investing in new projects. “Even though the EPBC Act is just a part of the current Tasmanian Regional Forestry Agreement’s (RFA) environmental assessment mechanism, any change to the EPBC Act could have a devastating impact on our regional forestry communities, as we have seen in other industries across the state,” Mr Steel said. Mr Steel said investing in the resources sectors in Tasmania needs to be made secure, to protect jobs, regional communities and the millions of dollars the industries bring to the Tasmanian economy. “Financing forestry endeavours in Tasmania is an expensive and long-term investment. Without certainty that that investment will pay off, our members can find it difficult to find finance for their projects,” Mr Steel said. “Forestry, and the entire Tasmanian resources sector, fully supports Senator Colbeck’s Bill, and I call on all Tasmanian Members of Parliament, as well as those who care about regional jobs across Australia to support this important piece of legislation.”
Categories: Forest Products Industry
Forestry invests in safety as the bushfire season is upon us
October marks the start of the bushfire season in many Australian states, our forest industries are well prepared for any potential threat to forestry assets, neighbouring farming areas, nature reserves and most importantly regional communities. Source: Timberbiz “The Australian Forest Products Association (AFPA) acknowledges the leadership shown by forest industry companies in investing in firefighting resources and strengthening their tactical relationships with emergency services and volunteers in local communities to combat bushfire threats” said AFPA Chief Executive Officer, Diana Hallam. While the bushfire season runs for six months from October, fire management is a year-round process, and our forestry companies invest a significant amount of effort and resources into prevention and preparedness activities to ensure our staff are educated and prepared to the best of their ability to protect Australia’s forest estates Ms Hallam said. Australia’s bushfire history illustrates the importance of investing in fire detection and prevention technologies and upgrading existing assets to ensure there is an additional layer of protection to safeguard and mitigate against potential disasters. Australia and our forest industries cannot afford another 2019/20 Black Summer event, after a total of 129,000 hectares of commercial plantations were burnt, causing significant impacts to long-term timber supplies in our domestic market and destroying native ecosystems and high-value habitats for flora and fauna species. “Uncontrolled bushfires not only negatively impact the livelihoods of regional towns, but also the health of the environment particularly through the release of additional carbon emissions. It has been calculated that the 2019/20 black summer fires released a total of 900 million tonnes of carbon dioxide, equivalent to the annual emissions from worldwide air travel in one year,” Ms Hallam said. “Our forest industries represent international best practice for preparedness and prevention in combatting bushfires, and as we enter into a possibly gruelling summer, we extend our appreciation in their commitment and protection to the land, the forestry estates and neighbouring communities.” The bushfire seasonal outlook indicates our forest industries in many parts of the nation could be severely impacted this summer due to recent drier than average conditions and mean temperatures possibly being above average over summer.
Categories: Forest Products Industry
Hyne Group purchases Pinetec expanding its pallet manufacturing business
The Hyne Group has acquired Pinetec, a pallet and packaging business based in Perth, Western Australia. This is the Hyne Group’s first manufacturing presence in the West in its 142-year history. Source: Timberbiz Earlier this year, the Hyne Group announced its expansion into pallet manufacturing following the acquisition of Rodpak Pallets & Packaging in Melbourne and Express Pallets & Crates in Brisbane. The Pinetec business has operated for more than 30 years (15 years with the current owners) with an excellent customer base across a range of essential sectors such as mining, industrial chemicals, engineering, building products and the transport industry. The business model is very compatible with the long-term partnership approach that Hyne Group operates under. Hyne Group CEO, Jim Bindon said Pinetec will continue to operate as usual but with the benefit of being part of a global network, “This expansion of our pallet division into the West is exciting times for both the Hyne Group and Pinetec,” he said. “I am also really pleased to advise that the two previous shareholders of the Pinetec business will remain involved in the Hyne Pallets division, as will all the existing staff. “One of those shareholders, Ian Smith, is the Pinetec General Manager, and I welcome his continued expertise and support in this role. “With the broader support of the Hyne and James Jones Groups, Pinetec’s capability and credentials as a business partner to their many customers, will only be enhanced.” Mr Bindon said. Pinetec’s other shareholder, Dean Roderick, is the general manager of Rodpak which has been part of the Hyne Group since May 2024, and Mr Roderick remains an integral part of the Hyne Pallets management team. Mr Roderick said the sale of his and Mr Smith’s Pinetec business to the Hyne Group is exciting, as is already being experienced by the Rodpak business. “With Pinetec coming into the Hyne Group fold, it is no longer a stand-alone business in the West, but immediately part of a global family with the ability to leverage from that, as we have been able to do at Rodpak,” he said. “Not only does this present really good opportunities for our team members, customers and suppliers, but it further diversifies the Hyne Group geographic footprint to ensure efficiency and growth into the future.” The acquisition of Pinetec will finalise on 1 November 2024, subject to all Completion Precedents being met.
Categories: Forest Products Industry