Two of Australia’s leading hardwood plantation managers are to merge to become the Plantation Timber Joint Venture.

Timbercorp Ltd and Futuris Corporation Ltd’s subsidiary Integrated Tree Cropping are joining forces to manage plantations of more than 167,000ha.

Timbercorp chief executive Robert Hance said: “The transfer of our forestry assets to a joint venture company with the critical mass to compete more effectively on the global commodity stage is a timely opportunity that will bring significant benefits.”