Hanson Plc Puts Cavenham On Market

Cavenham Forest Industries is up for sale, including five sawmills and 1.75 million acres of timber in Oregon, Washington, Louisiana and Mississippi.

The asking price is at least $1.5 billion.

The Portland-based company currently is owned by Hanson PLC, a London conglomerate run by its chairman, Lord Hanson.

About 175,000 acres of the land is in Clatsop County, northwest of Portland. The land features some of the richest timber-producing soils in the world. It is also located amid one of the most popular tourist destinations in Oregon - the northern coast.

Reaction to Wednesday’s news ranged from a call for public purchase of the lands by the leader of an environmental group to speculation on who would be in on the bidding.