Timberlands International is AEG's forestry management and lumber business. The Company is anticipating executing a Forest Management Agreement, including a Crown Timber Licence, with the Crown Province of Newfoundland and Labrador for Forestry Management Districts 17 and 18. This agreement, when executed, will extend AEG's management portfolio by 1.2 million hectares, of which more than 770,000 hectares is comprised of mature forestry assets.
In May 2018, Timberlands International signed an MOU to acquire a controlling interest in PowerWood Canada which holds forestry contracts with the Province of Alberta. These contracts enable PowerWood Canada to utilise 300,000 tonnes of merchantable timber (not including biomass or residues from forestry operations) annually from a forestry area of circa five million hectares in mature, established, natural forestry in Northern Alberta.