Feeds

Dotcom millionaire causes trouble at mill

Wotif saves the trees via acquisition

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

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. ®

The essential guide to IT transformation

More from The Register

next story
Our LOHAN spaceplane ballocket Kickstarter climbs through £8000
Through 25 per cent but more is needed: Get your UNIQUE rewards!
LOHAN tunes into ultra long range radio
And verily, Vultures shall speak status unto distant receivers
EOS, Lockheed to track space junk from Oz
WA facility gets laser-eyes out of the fog
Volcanic eruption in Iceland triggers CODE RED aviation warning
Lava-spitting Bárðarbunga prompts action from Met Office
NASA to reformat Opportunity rover's memory from 125 million miles away
Interplanetary admins will back up data and get to work
Major cyber attack hits Norwegian oil industry
Statoil, the gas giant behind the Scandie social miracle, targeted
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?