KAMUELA, Hawaii, 22 November 2021 / PRNewswire / – Kamuela Hardwood and Parker Ranch announced today that they have reached an agreement to jointly create a new company to mill, process and market specialty hardwoods and sustainably sourced reclaimed wood, which will also prioritize the availability of wood for consumers. local businesses, artisans, artisans and musical instrument makers.
The new company is an integral part of Parker Ranch strategic forestry initiatives and build on the exceptional experience and expertise of the Kamuela Hardwoods team. Parker Ranch, Inc. will become the strategic investor in the joint venture and current owners of Kamuela Hardwoods – Alex woodbury and Josh Greenspan – will become its operational members, responsible for the management of the business and daily operations of the company. The new joint venture, Paniolo Hardwoods, will acquire the assets and business operations of Kamuela Hardwoods and license its intellectual property. The new company will retain the employment of all Kamuela Hardwoods employees. Paniolo Hardwoods will complete the transaction before the end of 2021.
Dutch Kuyper, Chairman and CEO of Parker Ranch, Inc., explained the reasoning behind the strategic decision resulting from the combination with Kamuela Hardwoods. âOur strategic plan is focused on creating value through sustainability, including a wide range of resource-based opportunities such as renewable energy and forestry. We recognize the importance of forests in our ecosystem and in maintaining a healthy environment. This joint venture will support the economic viability of our forest restoration efforts. We believe the Kamuela Hardwoods team will bring tremendous value to our forestry initiatives.
âAs part of our forestry strategy, we want to maximize the value we can derive from our timber resources so that as much value as possible can be captured and reinvested in forests. Our goal is to triple our forest footprint, which will take time and significant investment. A portion of the revenues and profits from this business will be reinvested in our forestry expansion. An important goal is to ensure that most of the wood is sold locally to ensure that local artisans and craftspeople have access to these valuable wood species. Whether it’s turning into dimensional wood, large slabs, bowls, or other crafts such as musical instruments like ukuleles and guitars, we want to make sure that the majority of the original wood local remains in Hawai’i rather than being exported to the mainland in bulk. base, âadded Kuyper.
The new company will machine and market various hardwood species from Parker Ranch land and taken from the urban landscape. The joint venture will selectively harvest dead and dying trees, leaving room for new growth, while using wood that would otherwise end up in the landfill to turn into high-quality lumber and slabs.
Alex woodbury, Chairman of Kamuela Hardwoods, said: “Parker Ranch is a logical strategic investor for us. Kamuela Hardwoods needs access to forest resources and capital to grow over time. Constant availability of both is essential to ensure the sustainability of the business and reinvestment in the forest. We see this as an extraordinary opportunity to optimize the combination of value creation and resource sustainability. We look forward to the future of this strategic partnership with a partner who shares our values ââand goals. “
Kamuela Hardwoods is a recent recipient of the 2021 Hawai’i County Mayor Sustainability Award. This award recognizes Kamuela Hardwoods’ achievements in advancing the global movement for the United Nations Sustainable Development Goals in the most transformative, impactful and innovative way. Kamuela Hardwoods is also proud to have received the Hawaii State Trade Expansion (HISTEP), the Manufacturing Assistance Program, as well as the 2020 US Forest Service Wood Innovation Grants. Also a proud sponsor of the US Forest Service and University of Oregon College of Forestry, Kiln Drying Forum.
Photos available for download here. (Courtesy of Parker Ranch & Kamuela Hardwoods)
On Parker Ranch
Parker Ranch is one of the largest and oldest cattle ranches in United States. Parker Ranch, Inc. is owned by Parker Ranch Foundation Trust whose beneficiaries are four non-profit organizations: Queen’s North Hawai`i Community Hospital, Hawai`i Preparatory Academy, Parker School and the Hawaii Community Foundation. For more information, please visit www.parkerranch.com or www.prft.org.
About Kamuela Hardwoods
Kamuela Hardwoods is an urban wood recovery company, formed by a partnership between an arborist and a carpenter. For two decades, Kamuela Hardwoods has specialized in transforming underrated materials into high-quality lumber for users in Hawaii and beyond. For more information, visit www.kamuelahardwoods.com.
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