For inquiries on this matter, please contact
- Mitsui & Co. (Australia) Ltd.
Corporate Affairs Department
Telephone: +61 2 9256 9517
Nov. 25, 2015
Mitsui Bussan Woodchip Oceania (“MWO” a wholly owned subsidiary of Mitsui & Co., Ltd) is pleased to announce the first shipment of sustainably produced woodchips from the Northern Territory’s Tiwi islands under a long term off-take agreement with the Tiwi Plantation Corporation (“TPC”).
Under the agreement, MWO will market and export woodchips produced by TPC to paper mills throughout Asia.
The first vessel, bound for Japan, commenced loading this week at Port Melville in the Tiwi Islands, and will load approximately 40,000 tonnes of Acacia species woodchips.
The Acacia species woodchips from the Tiwi Islands are popular with paper mills throughout Asia as they are a sustainable, high quality and cost-competitive product that can be shipped from the geographically advantageous Port Melville location.
Supplying woodchips from TPC is a new development for MWO and the first shipment is a significant milestone in the commercial relationship MWO has developed with the TPC over several years.
A key factor cementing the relationship between MWO and TPC has been both parties’ desire to develop sustainable, long-term business, and MWO looks forward to exporting TPC woodchips for many years to come.
MWO has recently been audited and granted Forest Stewardship Council (FSC) Controlled Wood status for Acacia mangium woodchips generated from plantations growing on the Tiwi Islands. Controlled Wood status verifies that woodchips are responsibly sourced.
Mitsui Bussan Woodchip Oceania (MWO) has been involved in Australia’s woodchip export industry for close to three decades. MWO is Australia’s third largest woodchip exporter and annually exports more than 2.5 million green metric tonnes (GMT) of hardwood and softwood woodchips from Australia. MWO has investments in two plantation log processing and woodchip exporting businesses in Victoria and Western Australia, and investments in five plantation projects on the east and west coasts of Australia, totalling more than 33,000 hectares. MWO is involved in all stages of the value chain, from owning plantations, to managing harvesting and logistics, owning and operating woodchip mills, managing port facilities, chartering woodchip carriers, and marketing to customers throughout Asia.
Mitsui & Co. Ltd. (“Mitsui”) is one of the world's most diversified trading, investment and services enterprises. The Mitsui group manages a diverse portfolio of businesses including iron ore, coal, gas, oil, food, grain, salt, woodchips, power generation, machinery, steel products, and chemicals in Australia. On an equity basis, Mitsui and its group companies account for an estimated $8 billion worth of Australian goods and commodities exports per annum. Mitsui is also a major investor in this country, and collectively its group companies have invested more than $14 billion into Australia over the last decade.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.