Redwood trees are protected in the United States, creating demand for the timber from New Zealand. About 8000 hectares of commercial Redwood, also called Sequoia, can be found in 14 locations, mostly in the North Island.
Many forests of Redwood, which is known for its appearance and weather resistance, date back 80 or 90 years.
Now, the New Zealand Redwood Company has won approval to buy 1148 hectares of farmland at Matiere, in South Waikato.
Despite its name, the New Zealand Redwood Company is United States owned, so it needed approval from the Overseas Investment Office before it could make its purchase.
The office said the land purchase would produce six full-time jobs a year for the forest's life.
The company's general manager, Simon Rapley, said the business had been here since 2001, planting an extra 100ha each year.
"Growth rates in New Zealand are significantly higher than they are in their native California," he said.
"California is a very dry part of the world and consequently trees grow a lot slower than they do in New Zealand." . . . . >