Lindsay and Dixon

RESOURCE BASE

The Waitutu Holding Company (the local Maori iwi) has a contractual forestry agreement with the New Zealand Government for the cutting rights over the Longwood and Rowallan forests of Western Southland in perpetuity.

Lindsay and Dixon has respectively a 100 year contractual forestry agreement with the Waitutu Holding Company to sustainably manage and harvest the resource.

The Longwood and Rowallan forests comprise seven forestry blocks with a total area of 11582 hectares (refer map). These forests are predominantly Maple Beech (Botanical name Lophozonia Menziesii) with small areas of mixed podocarps such as Rimu and Totara.

From the total estimated forest stock of 1.32 million cubic metres, Lindsay and Dixon's annual permissible harvest volume is 23628m3 inclusive of all log grades and species. This represents a sustainable yield extraction volume of 1.8%. Very low and conservative by international standards which average 10%.

The entire forestry operations are managed and operated under a sustainable management plan - Ministry of Primary Industries approval number 4-13-019 and which is complimented by third party independent certification.

Lindsay & Dixon also mill and process high grade Radiata Pine, Eucalyptus and Macrocrapa for the local and export markets.










OPERATIONS

The Company operations are based in Tuatapere, Southland and centrally located in the heart of our forest resource.

The log yard, sawmill, kiln drying and manufacturing operations are on one 10 hectare site with over 10,000 square metres of dry storage and distribution facilities.

Depending on the species mix the sawmill has a capacity of 36,000m3 of log milling per annum, and has a prime focus and reputation for high grade recovery and sawn timber conversion.

The manufacturing division comprises 7 kiln drying units and the latest Leadermac technology for dressing and moulding; a Grecon Opticut fully computerised saw for precision componentry; a 40 bay laminating press and ancillary plant for the production of brush blanks, broom handles, rod, flooring & panelling.

Marketing and Administration offices in Tuatapere and Christchurch compliment the operation.