US: CatchMark Timber Trust and its Triple T joint venture have amended their wood supply agreement with Georgia-Pacific to achieve “market-based pricing on timber sales.” Under the amended deal, Triple T also will be able to increase reimbursement for extended haul distances, sell timber to other third parties and expand its ability to sell large timberland parcels to third party buyers. The supply agreement between Triple T and Georgia-Pacific has also been extended by two years from 2029 to 2031, with optimised harvest volume obligations to enhance and preserve long-term asset value. Triple T has paid Georgia-Pacific US$145m to make these changes.
CatchMark invests in 1.1 million acres of East Texas timberlands through Triple T and acts as the general partner of the venture on behalf of a consortium of institutional investors. Georgia-Pacific produces paper-based consumer products and building materials, including gypsum wallboard.
