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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.
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BELLEMONT, Ariz. - NewLife Forest Products has acquired a 425,000-square-foot plant and 35 acres of land near Flagstaff, Arizona, which it will use to house a new high-production sawmill. Around 200 employees will be hired.
NewLife, the operating entity for Good Earth Power AZ, says the facility will produce 120 million board feet of lumber per year, as well as engineered wood products. The operation will also thin the fire-ravaged forests of Arizona, which the company says are upwards of 20 times more overgrown than normal.
The U.S. Forest Service is collaborating with NewLife in the effort under the Four Forest Restoration Initiative (4FRI).