Tuesday, September 15, 2020 2:15 pm
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LOUISIANA (News release) -- Rayonier reports approximately 10,000 acres of timberland properties in Louisiana sustained severe damage from the storm, as Hurricane Laura made landfall near Cameron as it progressed inland through southwestern Louisiana.
Besides, during the last week, the Beachie Creek fire in Oregon spread through approximately 9,000 acres of land owned by ORM Timber Fund II, which Rayonier manages and in which it holds a 20% economic interest, and the Slater fire in Oregon spread through approximately 1,000 acres of land owned by ORM Timber Fund IV, which Rayonier manages and in which Rayonier holds a 15% economic interest.
The company is currently assessing the magnitude of the damage and determining the salvage potential for the affected properties in both Louisiana and Oregon.
Besides, during the last week, the Beachie Creek fire in Oregon spread through approximately 9,000 acres of land owned by ORM Timber Fund II, which Rayonier manages and in which it holds a 20% economic interest, and the Slater fire in Oregon spread through approximately 1,000 acres of land owned by ORM Timber Fund IV, which Rayonier manages and in which Rayonier holds a 15% economic interest.
The company is currently assessing the magnitude of the damage and determining the salvage potential for the affected properties in both Louisiana and Oregon.