Bowhead Specialty (NYSE:BOW)
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Bowater Incorporated, NRDC (Natural Resources Defense
Council) and the Dogwood Alliance jointly announced today the signing
of an accord to enhance the protection of the forests of the
Cumberland Plateau and other parts of the Southern United States.
Steeped in cultural and environmental heritage, the Cumberland Plateau
region is home to some of the most outstanding woodlands in North
America.
The Memorandum of Understanding (MOU) signed today will help
promote both healthy forests and a strong, sustainable forest products
economy for generations to come.
"This MOU reflects Bowater's long standing support and involvement
in the protection of our forests by engaging in new areas of
environmental stewardship," said Arnold M. Nemirow, Chairman,
President and Chief Executive Officer. "This understanding could not
have been successfully achieved without the strong dedication and
leadership of both the NRDC and Dogwood Alliance."
"Our aim is to promote local jobs and strong communities while
protecting the irreplaceable landscape of the Cumberland Plateau. This
new MOU will prove that we can achieve both a robust economy and a
healthy environment," said John H. Adams, President of NRDC. "Bowater
has shown tremendous leadership by committing to this effort. We
commend them for their effort and hard work, and for taking forest
stewardship into the 21st century."
"This is a major win for hundreds of communities throughout
Tennessee and the Southeastern U.S. that have been living with the
impacts of paper production for generations and want strong
communities and good jobs without sacrificing the landscape," said
Danna Smith, Policy Director for the Dogwood Alliance. "We hope other
paper producers in the South will follow Bowater's lead."
"I want to congratulate Bowater, the Natural Resources Defense
Council and the Dogwood Alliance for the understanding they have
reached to strengthen conservation efforts on the Cumberland Plateau,"
said Governor Phil Bredesen. "This is welcome news and we encourage
others - from individuals to partners in the public, private and
not-for-profit sectors - to contribute to the preservation and
protection of special places and natural resources in Tennessee."
Highlights of the MOU include:
-- Bowater will end conversion of natural hardwood forests to
pine plantations on all the land it owns in the United States
within three years. Such conversions recently have totaled
approximately 500 acres per year.
-- Bowater will stop buying from third-party land owners pine
fiber converted from natural forestland to pine plantations
after 2007. The phase out will take place over the next three
years.
-- Bowater will expand its buffer zones during aerial
applications of herbicides and fertilizers to a uniform 300
feet. The company will also formalize a public communication
program of these activities.
-- Bowater is in the process of studying approximately 7,000
acres of particularly sensitive areas (known as 'gulfs and
coves') areas on its Tennessee lands to identify those of
exceptional ecological, geological or historical significance.
The company has committed to take appropriate measures to
protect these areas as they are identified. While that study
is underway, Bowater has agreed not to sell or harvest those
areas.
Bowater (NYSE: BOW) has 12 pulp and paper mills in the United
States, Canada and South Korea, including a facility in Calhoun,
Tennessee that is one of the largest of its type in North America.
Bowater also has 12 North American sawmills producing softwood lumber
and two converting facilities, including one in Covington, Tennessee.
Bowater's operations are supported by approximately 1.4 million acres
of timberlands owned or leased in the U.S. and Canada and 30 million
acres of timber cutting rights in Canada.
The Natural Resources Defense Council is a national, nonprofit
organization of scientists, lawyers and environmental specialists
dedicated to protecting public health and the environment. Founded in
1970, NRDC has more than 1 million members and online activists
nationwide, served from offices in New York, Washington, Los Angeles
and San Francisco.
Dogwood Alliance is a regional network of 70 grassroots
organizations in 17 states and concerned citizens from across the
nation sharing a mission of protecting Southern forests and
communities by building broad-based, diverse support for ending
unsustainable industrial forest practices.