Feeds

Dotcom millionaire causes trouble at mill

Wotif saves the trees via acquisition

  • alert
  • submit to reddit

Intelligent flash storage arrays

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
SECRET U.S. 'SPACE WARPLANE' set to return from SPY MISSION
Robot minishuttle X-37B returns after almost 2 years in orbit
No sail: NASA spikes Sunjammer
'Solar sail' demonstrator project binned
LOHAN crash lands on CNN
Overflies Die Welt en route to lively US news vid
You can crunch it all you like, but the answer is NOT always in the data
Hear that, 'data journalists'? Our analytics prof holds forth
Experts brand LOHAN's squeaky-clean box
Phytosanitary treatment renders Vulture 2 crate fit for export
Carry On Cosmonaut: Willful Child is a poor taste Star Trek parody
Cringeworthy, crude and crass jokes abound in Steven Erikson’s sci-fi debut
Origins of SEXUAL INTERCOURSE fished out of SCOTTISH LAKE
Fossil find proves it first happened 385 million years ago
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.