Feeds

Dotcom millionaire causes trouble at mill

Wotif saves the trees via acquisition

  • alert
  • submit to reddit

High performance access to file storage

One of Australia’s wealthiest dotcom entrepreneurs Graeme Wood has put some of his hard-earned into preserving native Tasmanian forest.

In a bold environmental move, Wood has joined with Jan Cameron (founder of retail clothing outlet Kathmandu) to buy the struggling Gunns Triabunna native forest woodchip export mill in Tasmania for $AU10 million.

Retaining a pro-conservation stance the new owners of the mill claim that they will create new jobs via eco tourism and protect native forests.

Wood, who has an estimated private fortune of around $AU300 million founded ASX listed online travel site Wotif.com ten years ago and has subsequently invested in a series of ventures including wotflight.com and news aggregation site wotnews.com.

Wood also has a strong philanthropic streak, setting up side ventures like Wild Mob, a project that allows volunteers to work on environmental projects around Australia. “I’ve always felt strongly about looking after the environment,” Wood has said.

While the new owners and their intentions have caused a stir in the logging industry, the mill will have a transition period of shutting down over three years.

The terms of sale require the new owners to lease the mill as an export woodchip business consistent with a recent agreement between conservationists and timber groups.

In the longer term it is understood they are looking at leveraging the mill’s site which has deep harbour access for new ventures in tourism and agriculture. ®

High performance access to file storage

More from The Register

next story
IBM Hursley Park: Where Big Blue buries the past, polishes family jewels
How the internet of things has deep roots in the English countryside
Video games make you NASTY AND VIOLENT
Especially if you are bad at them and keep losing
Russian deputy PM: 'We are coming to the Moon FOREVER'
Plans to annex Earth's satellite with permanent base by 2030
Solar-powered aircraft unveiled for round-the-world flight
It's going to be a slow and sleepy flight for the pilots
LOHAN's Punch and Judy show relaunches Thursday
Weather looking good for second pop at test flights
Honeybee boffin STINGS OWN WEDDING TACKLE... for SCIENCE
Not the worst place to be stung, says one man
India's GPS alternative launches second satellite
Closed satnav system due to have all seven birds aloft by 2016
Curiosity finds not-very-Australian-shaped rock on Mars
File under 'messianic pastries' and move on, people
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.