Feeds

Dotcom millionaire causes trouble at mill

Wotif saves the trees via acquisition

  • alert
  • submit to reddit

Security for virtualized datacentres

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. ®

Security for virtualized datacentres

More from The Register

next story
Boffins who stare at goats: I do believe they’re SHRINKING
Alpine chamois being squashed by global warming
What's that STINK? Rosetta probe shoves nose under comet's tail
Rotten eggs, horse dung and almonds – yuck
Comet Siding Spring revealed as flying molehill
Hiding from this space pimple isn't going to do humanity's reputation any good
Kip Thorne explains how he created the black hole for Interstellar
Movie special effects project spawns academic papers on gravitational lensing
Experts brand LOHAN's squeaky-clean box
Phytosanitary treatment renders Vulture 2 crate fit for export
LONG ARM of the SAUR: Brachially gifted dino bone conundrum solved
Deinocheirus mirificus was a bit of a knuckle dragger
prev story

Whitepapers

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.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.