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BELLEMONT, Ariz. - NewLife Forest Products, the operating entity for Good Earth Power AZ, has received a $50 million investment from private equity firm Lateral Investment Management. A new leadership team has also been named.
NewLife announced last month that it would build a 425,000-square-foot sawmill near Flagstaff, Arizona. Around 200 employees will be hired to work at the facility, which will output 120 million board feet of lumber per year.
The U.S. Forest Service is collaborating with NewLife on the plant, as it will help thin the fire-ravaged forests of Arizona. NewLife says the region s forests are upwards of 20 times more overgrown than normal.
New Arizona sawmill to boost forest restoration efforts sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.