Invitation for Expression of Interest
Invitation for Expression of Interest For the supply of Araucaria and Southern Pine logs in South East Queensland, Australia
ForestryPlantations PlantationsQueensland Pty Ltd
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Introduction Forestry Plantations Queensland Pty Ltd (FPQ) is seeking expressions of interest to secure log supply contracts from parties interested in investing in and operating efficient wood processing facilities in Queensland. This is a unique opportunity to be involved in a sustainable plantation based forest industry in South East (SE) Queensland utilising high quality Southern Pine and Araucaria timber resources.
Parties are invited to submit an Expression of Interest (EOI) to gain access to an Information Memorandum (IM) being released in September 2011. Interested parties may then be invited to submit formal proposals to FPQ. FPQ aims to supply logs to a strong and competitive timber processing industry through efficient log allocation to a range of different customers and market segments. This is an opportunity for forest products processing and marketing organisations to secure access to a high quality sustainable plantation based log supply in SE Queensland, where there is a stable political and investment environment, excellent regional infrastructure and medium term growth in demand for forest products. FPQ is Queensland’s largest plantation resource owner (www.fpq.net.au). FPQ was purchased in 2010 by Hancock Queensland Plantations Pty Ltd a company managed by Hancock Timber Resource Group (HTRG) on behalf of institutional investors. HTRG is the world’s largest timberland investment manager. As of 31 December, 2010, HTRG’s forest assets under management totalled 1.8 million hectares with a value approximating US$9 billion. These assets are located in the United States, Canada, Australia, New Zealand and Brazil. HTRG was founded in 1985 and is based in Boston, Massachusetts, USA (www.hnrg.com). URS’s forestry group is managing the FPQ log supply marketing process on behalf of FPQ and will be the main point of contact with all Proponents and interested parties throughout the process.
Investment highlights FPQ manages approximately 127,000 hectares (ha) of Southern Pine and 43,000 ha of Araucaria (Araucaria cunninghamii) in SE Queensland. By 2016, nearly all of FPQ’s current contractual commitments for this resource will have expired. The potential total harvest of 1.9 million cubic metres (m3) rises to 2.4 million m3 in the longer term. This invitation for EOI represents an excellent opportunity for existing and prospective wood processors. The FPQ plantation timber resource offers several distinct advantages for wood processors: ●
The rare opportunity to secure a significant volume of high quality softwood logs from a leading forest grower to underpin world scale processing facilities;
●
Located in SE Queensland, the resource is centred in a fast growing, business friendly Australian state in close proximity to Brisbane, Queensland’s largest city;
●
FPQ forests are certified to the PEFC endorsed Australian Forest Standard (AFS). FPQ is seeking to extend certification to include the Forest Stewardship Council (FSC) standard; and
●
The Araucaria resource is the only substantial sustainably managed plantation resource of this species in the world. Araucaria produces light coloured and finely grained and stable timber which is easily worked for a range of value-added product applications.
FPQ is open to innovative proposals from Australian or internationally based forest products processors. Potential opportunities might include sawmilling for structural or appearance products, engineered wood products (e.g. Laminated Veneer Lumber, Cross Laminated Timber or Glulam beams), board products (e.g. MDF or particleboard) or veneer and plywood products.
1 Southern Pine — refers to predominantly Southern Yellow Pine or Slash Pine (P. elliotti var. elliotii), Caribbean Pine (P. caribaea var. hondurensis) and hybrid of Slash and Caribbean pines.
1
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Plantations profile: the Southern Pine and Araucaria resource FPQ manages just over 170,000 ha of Southern Pine and Araucaria in SE Queensland. The plantations are primarily located between the Sunshine Coast (1 hour north of Brisbane) and Maryborough (260 kilometres (km) north of Brisbane) with smaller plantation nodes extending to just north of Rockhampton. The plantations are generally within 200 km of the coast and are predominantly grown on State Plantation Forest tenure under a 99 year licence agreement. The
SE Queensland Southern Pine resource comprises approximately 127,000 ha. The Araucaria resource comprises an area of approximately 43,000 ha. Southern Pine is typically harvested at around 28-30 years of age whilst Araucaria is typically harvested around age 40-50 years. Figure 1 shows the spatial distribution of the plantation areas.
Figure 1: Map of FPQ plantations in SE Queensland
2
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Figure 2 summarises the projected supply of Southern Pine to 2036. Currently around 1.25 million m3 of Southern Pine logs is harvested by FPQ however this resource is expected to increase gradually to 1.8 million m3 over the next 25 years. There is potential for sustained and increasing production in the Southern Pine resource over the long term, providing timber processors with a resource base to supply a growing demand for wood products. The Southern Pine resource can be characterised by three major product groups: pruned sawlogs >25 cm small end diameter (SED), unpruned sawlogs >12 cm SED and pulplogs >7 cm SED.
Figure 3: Araucaria — projected wood flow by grade in SE Queensland
Araucaria is a well known high value softwood product with international market recognition in many segments including furniture, veneer, food packaging, as well as traditional construction purposes. It is one of the most successfully grown native plantation species in Australia. Other members of the Araucaria family which are well known for their timber properties are Araucaria angustifolia (Parana pine) from Brazil and Araucaria araucana (Monkey Puzzle pine) from Chile. Figure 2: Southern Pine — projected wood flow by grade in SE Queensland.
The Southern Pine name is used here to represent a number of species however the major species are Pinus elliottii var elliottii (Slash pine), Pinus caribaea var. hondurensis (Caribbean pine) and other genetically improved hybrids of these two species that have been proven to grow well in the SE Queensland region. Slash and Caribbean pines are well recognised internationally for their structural properties and the resource has been sold extensively in Australia for many years for use in structural and outdoor applications. Southern Pine timber products are well respected in the building and construction industry for versatility and strength. Figure 3 summarises the projected supply of Araucaria to 2036. The Araucaria harvest currently amounts to around 400,000 m3 however the potential exists for this to increase to over 600,000 m3. Annual volume from pruned grades ranges from 85,000 m3 increasing to an average of 120,000 m3 of pruned logs per annum.
FPQ quality management FPQ has a long history of plantation management and forest yield calculation. It maintains a strong system of risk management for the plantation asset and this provides its customers with confidence that a steady resource flow is available to ensure continuous and efficient processing of logs. FPQ is committed to a system of sustainable forest management based on over 50 years of experience and investment. These systems provide the basis of its social licence to operate and support its accreditation to the PEFC endorsed Australian Forestry Standard (AFS; AFS/01-21-03)). FPQ is also actively seeking to secure Forest Stewardship Council (FSC) certification — the application process has commenced and FPQ is aiming to achieve certification by March 2012. The recognition FPQ has received through forest certification provides strong reassurance to customers that the wood products they purchase are from the highest quality, most sustainable resource worldwide and provides a ‘chain of custody’ opportunity to service discerning markets.
3
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Regional profile: South East Queensland SE Queensland is one of Australia’s fastest growing metropolitan regions. From 2006 to 2031, the region’s population is expected to grow from 2.8 million to 4.4 million people. SE Queensland’s population is concentrated in Brisbane, Toowoomba and the Gold and Sunshine Coasts. The region has a typical sub-tropical climate with high annual rainfall which provides a strong foundation for productive industrial forest plantations. Australia has a strong economy and is well known as a safe and stable investment environment for domestic and foreign businesses. In 2010, Dun & Bradstreet ranked Australia alongside Canada, Switzerland and Norway, as the safest and most secure destination for foreign investment in the world. In addition, the Queensland economy benefits from significant investment in regional infrastructure. Queensland has an extensive road and rail infrastructure and a major port at Brisbane (www.portbris.com.au) to support any export based markets. In 2011/12 the Queensland Government spent A$4 billion maintaining and improving the state roading network. Queensland has advanced electricity and water networks with deep supply bases capable of sustaining the State’s growing industries. The State Government’s ‘SE Queensland Infrastructure Plan and Program 2010–2031’ is the largest regional infrastructure plan in Australia. The plan commits A$134 billion in infrastructure investment through to 2031. To date A$22 billion of the Plan has been spent upgrading Queensland’s infrastructure.
4
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Registering an Expression of Interest This information has been provided to businesses identified as having a potential interest in securing a high quality log supply for processing or may have knowledge of parties that may have an interest. Interested parties may include businesses with existing processing facilities in SE Queensland and parties that may consider investing in new processing facilities in the region. If after reading this Invitation, your company has an interest in understanding this log supply offer in more detail, FPQ encourages you to submit an EOI. Your EOI will ensure you are considered for further participation in FPQ’s log supply marketing process. An Information Memorandum will be made available to those interested parties selected by FPQ to participate further in FPQ’s log supply marketing process, in mid to late September 2011.
The EOI process is a non-binding process designed to identify those parties with an interest in principle for securing logs from the FPQ resource. Each EOI should briefly address the following:
Step
Approximate date
Release of Information Flyer
19 August 2011
●
Name of the legal entity preparing the proposal (the ‘Proponent’);
Closing date for EOIs
19 September 2011
●
Identity of the parties represented by the Proponent; Details of relevant experience of the Proponent and parties represented (in particular details of business experience in the forest products sector);
Release of IM to selected parties following submission of an EOI
Late September 2011
●
●
Details of any relevant assets owned or operated by the Proponent and parties represented (in particular the size and location of any existing wood processing facilities);
●
Any other information that you believe will help to establish the credentials of the Proponent and parties represented;
●
Any issues that you consider may be an impediment to proceeding further through this process; and
●
Names, office and mobile telephone numbers, facsimile numbers and e-mail addresses of persons who may be contacted in relation to the EOI.
Submissions of EOIs are sought by 19 September 2011 To submit an EOI you will need to download a copy of the EOI registration form from the FPQ Log Supply project website at www.urscorp.com.au/forestry/FPQLogSupply/. Please complete this form then email it to [email protected]. Proponents will receive confirmation via email that their EOI has been received. A project representative may then contact you in the period before the IM is released. Prior to receiving the IM, all interested parties will be required to sign a deed of confidentiality and a deed of release with URS and FPQ. After receiving a copy of the IM, FPQ will shortlist Proponents for more detailed discussions of proposals. The intended procedures and timeframe for the entire process are outlined in Table 1 below. Selection criteria for successful bids will be outlined in the Information Memorandum released in late September 2011.
URS communications with recipients Receive indicative proposals from proponents Review and shortlisting of proposals
October 2011
Distribute draft Heads of Agreement
Late October 2011
Undertake field inspections with proponents Receive final bids
Late January 2012
Review and shortlist final bids Notify shortlisted bidders
February–March 2012
Negotiations
March–April 2012
Finalise negotiations Sign Heads of Agreement
April–May 2012
Conclude agreements
June 2012
Table 1: Summary of FPQ’s proposed log supply marketing process
Further enquiries Any further communications or specific enquiries regarding the FPQ log supply marketing process by proponents or their advisers should be directed to URS project leaders using at contact details below: Andre Neumann Principal Consultant, URS New Zealand Level 6, URS Centre 13–15 College Hill Auckland 1001, New Zealand T (direct): +64 9 359 6210 F: +64 9 355 1333 E: [email protected]
Duncan MacLeod Senior Consultant, URS Australia Level 6, 1 Southbank Boulevard Southbank Vic 3006, Australia T (direct): +61 3 8699 7583 F: +61 3 8699 7550 E: [email protected]
Any media enquiries or general enquiries not directly related to the FPQ log supply marketing process should be directed to FPQ.
5
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Terms and conditions This Invitation for Expression of Interest (‘Invitation’) is not an offer, but is merely an invitation to the recipient to submit an expression of interest seeking a copy of a more detailed Information Memorandum. FPQ is not bound to issue an IM or enter into any agreement in response to any EOI. FPQ may in its sole discretion:
Each Proponent who lodges an EOI agrees that it shall not have any rights and further waives any rights it may have against FPQ, or any other person arising from the log supply marketing process (including this Invitation) and agrees not to make any claim, bring any action or otherwise seek to recover from FPQ or URS, or any other person associated with FPQ, any of the costs incurred by that proponent in respect of its EOI or any lost expectation of profits or other benefits which that Proponent may expect to accrue to it from any acceptance of its EOI.
●
Issue or refuse to issue an Information Memorandum in response to an EOI;
●
Amend the Invitation, change the scope of the Invitation or vary the nature of the Invitation at any time;
●
Amend, vary or extend the procedures or timeframes outlined in Table 1;
●
Accept or re-advertise for additional expressions of interest at any time;
●
Terminate the Log Supply Marketing Process or any parties participation at any time for any reason; and
●
Waive any irregularities or informalities in the Log Supply Marketing Process or in a particular EOI.
Each Proponent acknowledges that it must, as a condition precedent to receiving an Information Memorandum, sign a deed of confidentiality and a deed of release with URS and FPQ. These deeds will be sent to Proponents selected by FPQ to receive an Information Memorandum.
Details of EOI’s will be kept confidential and will not be divulged to any third parties except:
The provisions of this Invitation shall be governed by and construed in accordance with the laws of Australia.
●
To FPQ’s professional advisers (including URS);
●
As required by law;
●
When agreed by the Proponent;
●
As provided for in any subsequent agreement entered into between the Proponent and either FPQ or URS.
Each Proponent acknowledges that in incurring expenditure or liabilities or entering into arrangements on the basis of this Invitation it does so at its own risk. Accordingly, all costs and losses of whatever nature incurred by a Proponent in the preparation and submission of its EOI shall be borne solely by that Proponent.
6
ForestryPlantations PlantationsQueensland Pty Ltd
ForestryPlantations PlantationsQueensland Pty Ltd
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Introduction Forestry Plantations Queensland Pty Ltd (FPQ) is seeking expressions of interest to secure log supply contracts from parties interested in investing in and operating efficient wood processing facilities in Queensland. This is a unique opportunity to be involved in a sustainable plantation based forest industry in South East (SE) Queensland utilising high quality Southern Pine and Araucaria timber resources.
Parties are invited to submit an Expression of Interest (EOI) to gain access to an Information Memorandum (IM) being released in September 2011. Interested parties may then be invited to submit formal proposals to FPQ. FPQ aims to supply logs to a strong and competitive timber processing industry through efficient log allocation to a range of different customers and market segments. This is an opportunity for forest products processing and marketing organisations to secure access to a high quality sustainable plantation based log supply in SE Queensland, where there is a stable political and investment environment, excellent regional infrastructure and medium term growth in demand for forest products. FPQ is Queensland’s largest plantation resource owner (www.fpq.net.au). FPQ was purchased in 2010 by Hancock Queensland Plantations Pty Ltd a company managed by Hancock Timber Resource Group (HTRG) on behalf of institutional investors. HTRG is the world’s largest timberland investment manager. As of 31 December, 2010, HTRG’s forest assets under management totalled 1.8 million hectares with a value approximating US$9 billion. These assets are located in the United States, Canada, Australia, New Zealand and Brazil. HTRG was founded in 1985 and is based in Boston, Massachusetts, USA (www.hnrg.com). URS’s forestry group is managing the FPQ log supply marketing process on behalf of FPQ and will be the main point of contact with all Proponents and interested parties throughout the process.
Investment highlights FPQ manages approximately 127,000 hectares (ha) of Southern Pine and 43,000 ha of Araucaria (Araucaria cunninghamii) in SE Queensland. By 2016, nearly all of FPQ’s current contractual commitments for this resource will have expired. The potential total harvest of 1.9 million cubic metres (m3) rises to 2.4 million m3 in the longer term. This invitation for EOI represents an excellent opportunity for existing and prospective wood processors. The FPQ plantation timber resource offers several distinct advantages for wood processors: ●
The rare opportunity to secure a significant volume of high quality softwood logs from a leading forest grower to underpin world scale processing facilities;
●
Located in SE Queensland, the resource is centred in a fast growing, business friendly Australian state in close proximity to Brisbane, Queensland’s largest city;
●
FPQ forests are certified to the PEFC endorsed Australian Forest Standard (AFS). FPQ is seeking to extend certification to include the Forest Stewardship Council (FSC) standard; and
●
The Araucaria resource is the only substantial sustainably managed plantation resource of this species in the world. Araucaria produces light coloured and finely grained and stable timber which is easily worked for a range of value-added product applications.
FPQ is open to innovative proposals from Australian or internationally based forest products processors. Potential opportunities might include sawmilling for structural or appearance products, engineered wood products (e.g. Laminated Veneer Lumber, Cross Laminated Timber or Glulam beams), board products (e.g. MDF or particleboard) or veneer and plywood products.
1 Southern Pine — refers to predominantly Southern Yellow Pine or Slash Pine (P. elliotti var. elliotii), Caribbean Pine (P. caribaea var. hondurensis) and hybrid of Slash and Caribbean pines.
1
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Plantations profile: the Southern Pine and Araucaria resource FPQ manages just over 170,000 ha of Southern Pine and Araucaria in SE Queensland. The plantations are primarily located between the Sunshine Coast (1 hour north of Brisbane) and Maryborough (260 kilometres (km) north of Brisbane) with smaller plantation nodes extending to just north of Rockhampton. The plantations are generally within 200 km of the coast and are predominantly grown on State Plantation Forest tenure under a 99 year licence agreement. The
SE Queensland Southern Pine resource comprises approximately 127,000 ha. The Araucaria resource comprises an area of approximately 43,000 ha. Southern Pine is typically harvested at around 28-30 years of age whilst Araucaria is typically harvested around age 40-50 years. Figure 1 shows the spatial distribution of the plantation areas.
Figure 1: Map of FPQ plantations in SE Queensland
2
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Figure 2 summarises the projected supply of Southern Pine to 2036. Currently around 1.25 million m3 of Southern Pine logs is harvested by FPQ however this resource is expected to increase gradually to 1.8 million m3 over the next 25 years. There is potential for sustained and increasing production in the Southern Pine resource over the long term, providing timber processors with a resource base to supply a growing demand for wood products. The Southern Pine resource can be characterised by three major product groups: pruned sawlogs >25 cm small end diameter (SED), unpruned sawlogs >12 cm SED and pulplogs >7 cm SED.
Figure 3: Araucaria — projected wood flow by grade in SE Queensland
Araucaria is a well known high value softwood product with international market recognition in many segments including furniture, veneer, food packaging, as well as traditional construction purposes. It is one of the most successfully grown native plantation species in Australia. Other members of the Araucaria family which are well known for their timber properties are Araucaria angustifolia (Parana pine) from Brazil and Araucaria araucana (Monkey Puzzle pine) from Chile. Figure 2: Southern Pine — projected wood flow by grade in SE Queensland.
The Southern Pine name is used here to represent a number of species however the major species are Pinus elliottii var elliottii (Slash pine), Pinus caribaea var. hondurensis (Caribbean pine) and other genetically improved hybrids of these two species that have been proven to grow well in the SE Queensland region. Slash and Caribbean pines are well recognised internationally for their structural properties and the resource has been sold extensively in Australia for many years for use in structural and outdoor applications. Southern Pine timber products are well respected in the building and construction industry for versatility and strength. Figure 3 summarises the projected supply of Araucaria to 2036. The Araucaria harvest currently amounts to around 400,000 m3 however the potential exists for this to increase to over 600,000 m3. Annual volume from pruned grades ranges from 85,000 m3 increasing to an average of 120,000 m3 of pruned logs per annum.
FPQ quality management FPQ has a long history of plantation management and forest yield calculation. It maintains a strong system of risk management for the plantation asset and this provides its customers with confidence that a steady resource flow is available to ensure continuous and efficient processing of logs. FPQ is committed to a system of sustainable forest management based on over 50 years of experience and investment. These systems provide the basis of its social licence to operate and support its accreditation to the PEFC endorsed Australian Forestry Standard (AFS; AFS/01-21-03)). FPQ is also actively seeking to secure Forest Stewardship Council (FSC) certification — the application process has commenced and FPQ is aiming to achieve certification by March 2012. The recognition FPQ has received through forest certification provides strong reassurance to customers that the wood products they purchase are from the highest quality, most sustainable resource worldwide and provides a ‘chain of custody’ opportunity to service discerning markets.
3
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Regional profile: South East Queensland SE Queensland is one of Australia’s fastest growing metropolitan regions. From 2006 to 2031, the region’s population is expected to grow from 2.8 million to 4.4 million people. SE Queensland’s population is concentrated in Brisbane, Toowoomba and the Gold and Sunshine Coasts. The region has a typical sub-tropical climate with high annual rainfall which provides a strong foundation for productive industrial forest plantations. Australia has a strong economy and is well known as a safe and stable investment environment for domestic and foreign businesses. In 2010, Dun & Bradstreet ranked Australia alongside Canada, Switzerland and Norway, as the safest and most secure destination for foreign investment in the world. In addition, the Queensland economy benefits from significant investment in regional infrastructure. Queensland has an extensive road and rail infrastructure and a major port at Brisbane (www.portbris.com.au) to support any export based markets. In 2011/12 the Queensland Government spent A$4 billion maintaining and improving the state roading network. Queensland has advanced electricity and water networks with deep supply bases capable of sustaining the State’s growing industries. The State Government’s ‘SE Queensland Infrastructure Plan and Program 2010–2031’ is the largest regional infrastructure plan in Australia. The plan commits A$134 billion in infrastructure investment through to 2031. To date A$22 billion of the Plan has been spent upgrading Queensland’s infrastructure.
4
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Registering an Expression of Interest This information has been provided to businesses identified as having a potential interest in securing a high quality log supply for processing or may have knowledge of parties that may have an interest. Interested parties may include businesses with existing processing facilities in SE Queensland and parties that may consider investing in new processing facilities in the region. If after reading this Invitation, your company has an interest in understanding this log supply offer in more detail, FPQ encourages you to submit an EOI. Your EOI will ensure you are considered for further participation in FPQ’s log supply marketing process. An Information Memorandum will be made available to those interested parties selected by FPQ to participate further in FPQ’s log supply marketing process, in mid to late September 2011.
The EOI process is a non-binding process designed to identify those parties with an interest in principle for securing logs from the FPQ resource. Each EOI should briefly address the following:
Step
Approximate date
Release of Information Flyer
19 August 2011
●
Name of the legal entity preparing the proposal (the ‘Proponent’);
Closing date for EOIs
19 September 2011
●
Identity of the parties represented by the Proponent; Details of relevant experience of the Proponent and parties represented (in particular details of business experience in the forest products sector);
Release of IM to selected parties following submission of an EOI
Late September 2011
●
●
Details of any relevant assets owned or operated by the Proponent and parties represented (in particular the size and location of any existing wood processing facilities);
●
Any other information that you believe will help to establish the credentials of the Proponent and parties represented;
●
Any issues that you consider may be an impediment to proceeding further through this process; and
●
Names, office and mobile telephone numbers, facsimile numbers and e-mail addresses of persons who may be contacted in relation to the EOI.
Submissions of EOIs are sought by 19 September 2011 To submit an EOI you will need to download a copy of the EOI registration form from the FPQ Log Supply project website at www.urscorp.com.au/forestry/FPQLogSupply/. Please complete this form then email it to [email protected]. Proponents will receive confirmation via email that their EOI has been received. A project representative may then contact you in the period before the IM is released. Prior to receiving the IM, all interested parties will be required to sign a deed of confidentiality and a deed of release with URS and FPQ. After receiving a copy of the IM, FPQ will shortlist Proponents for more detailed discussions of proposals. The intended procedures and timeframe for the entire process are outlined in Table 1 below. Selection criteria for successful bids will be outlined in the Information Memorandum released in late September 2011.
URS communications with recipients Receive indicative proposals from proponents Review and shortlisting of proposals
October 2011
Distribute draft Heads of Agreement
Late October 2011
Undertake field inspections with proponents Receive final bids
Late January 2012
Review and shortlist final bids Notify shortlisted bidders
February–March 2012
Negotiations
March–April 2012
Finalise negotiations Sign Heads of Agreement
April–May 2012
Conclude agreements
June 2012
Table 1: Summary of FPQ’s proposed log supply marketing process
Further enquiries Any further communications or specific enquiries regarding the FPQ log supply marketing process by proponents or their advisers should be directed to URS project leaders using at contact details below: Andre Neumann Principal Consultant, URS New Zealand Level 6, URS Centre 13–15 College Hill Auckland 1001, New Zealand T (direct): +64 9 359 6210 F: +64 9 355 1333 E: [email protected]
Duncan MacLeod Senior Consultant, URS Australia Level 6, 1 Southbank Boulevard Southbank Vic 3006, Australia T (direct): +61 3 8699 7583 F: +61 3 8699 7550 E: [email protected]
Any media enquiries or general enquiries not directly related to the FPQ log supply marketing process should be directed to FPQ.
5
Forestry Plantations Queensland Pty Ltd
Invitation for Expression of Interest
Terms and conditions This Invitation for Expression of Interest (‘Invitation’) is not an offer, but is merely an invitation to the recipient to submit an expression of interest seeking a copy of a more detailed Information Memorandum. FPQ is not bound to issue an IM or enter into any agreement in response to any EOI. FPQ may in its sole discretion:
Each Proponent who lodges an EOI agrees that it shall not have any rights and further waives any rights it may have against FPQ, or any other person arising from the log supply marketing process (including this Invitation) and agrees not to make any claim, bring any action or otherwise seek to recover from FPQ or URS, or any other person associated with FPQ, any of the costs incurred by that proponent in respect of its EOI or any lost expectation of profits or other benefits which that Proponent may expect to accrue to it from any acceptance of its EOI.
●
Issue or refuse to issue an Information Memorandum in response to an EOI;
●
Amend the Invitation, change the scope of the Invitation or vary the nature of the Invitation at any time;
●
Amend, vary or extend the procedures or timeframes outlined in Table 1;
●
Accept or re-advertise for additional expressions of interest at any time;
●
Terminate the Log Supply Marketing Process or any parties participation at any time for any reason; and
●
Waive any irregularities or informalities in the Log Supply Marketing Process or in a particular EOI.
Each Proponent acknowledges that it must, as a condition precedent to receiving an Information Memorandum, sign a deed of confidentiality and a deed of release with URS and FPQ. These deeds will be sent to Proponents selected by FPQ to receive an Information Memorandum.
Details of EOI’s will be kept confidential and will not be divulged to any third parties except:
The provisions of this Invitation shall be governed by and construed in accordance with the laws of Australia.
●
To FPQ’s professional advisers (including URS);
●
As required by law;
●
When agreed by the Proponent;
●
As provided for in any subsequent agreement entered into between the Proponent and either FPQ or URS.
Each Proponent acknowledges that in incurring expenditure or liabilities or entering into arrangements on the basis of this Invitation it does so at its own risk. Accordingly, all costs and losses of whatever nature incurred by a Proponent in the preparation and submission of its EOI shall be borne solely by that Proponent.
6
ForestryPlantations PlantationsQueensland Pty Ltd
