Feeds

Dotcom millionaire causes trouble at mill

Wotif saves the trees via acquisition

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Ex-Soviet engines fingered after Antares ROCKET launch BLAST
Speculation rife, but Orbital claims it's too early to tell
Voyager 1 now EIGHTEEN LIGHT HOURS from home
Almost 20 BEEELION kilometres from Sol
MEN: For pity's sake SLEEP with LOTS of WOMEN - and avoid Prostate Cancer
And, um, don't sleep with other men. If that's what worries you
Jim Beam me up, Scotty! WHISKY from SPAAACE returns to Earth
They're insured for $1m, before you thirsty folks make plans
ROGUE SAIL BOAT blocks SPACE STATION PODULE blastoff
Er, we think our ISS launch beats your fishing expedition
NASA: Spacecraft crash site FOUND ON MOON RIM
'What fun!' exlaims NASA boffin who found the LADEE
BAE points electromagnetic projectile at US Army
Railguns for 'Future fighting vehicle'
OK Google, do I have CANCER?
Company talks up pill that would spot developing tumors
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.