Lyme Timber Co. has acquired 92,000 acres of timberland in the region from Seneca Resources, bringing Lyme’s regional forestland ownership to 159,000 acres.
The land is located primarily in Potter, McKean, Cameron, and Elk counties, and the acquisition adds to Lyme’s 67,000-acre existing forestland ownership in the region. Three Rivers Forest Management, a business Lyme established in Coudersport, will manage the combined land base, which spans 14 counties in Pennsylvania and five counties in New York. The acquisition reflects Lyme’s commitment to sustainable forest management and the forest products supply chain in Pennsylvania.
In a prepared release, Lyme’s CEO Jim Hourdequin commented, “This is an exciting time of growth for our business in Pennsylvania. Seneca has managed the property for over a century to deliver economic and ecological value to the region. The land complements our existing land base, enables efficiencies in our operations, and provides access to a vibrant local forest products economy.”
Three Rivers Forest Management’s David Andrus added, “With this acquisition, we look forward to growing our relationships with local forest products businesses in northern Pennsylvania.”
Lyme spokesperson Kathryn Klaber explained that by the beginning of January, Lyme will have expanded Three Rivers to include eight people to manage the combined land base.
“The acquisition will result in an increased annual harvest volume for the company from the combined land base,” Klaber said. “The team will continue to develop existing and new partnerships with logging contractors, local mills, and others.
“Sustainable timber production, recreational access, and managing the property for diverse ecological values remain central to Lyme’s forward-looking strategy for the combined land base,” she explained.
Lyme, based in New Hampshire, has a minority investment in Emporium Hardwoods in Cameron County. In 2019, Lyme hosted a tour of the new, state-of-the-art sawmill. A devastating fire in 2017 did millions in damages to the mill, which was completely renovated and reconstructed.
Lyme invested in the mill when it was completed, and following their purchase of approximately 67,500 acres of land in the region. In 2019, Lyme made a significant minority investment in Northern Appalachian Log and Forestry, a locally managed, locally controlled log marketing and export business based in Coudersport. These operating businesses sit in the middle of Lyme’s timberland ownership in the region, according to the company’s website.
The website noted, “Lyme’s investments in Pennsylvania are creating and supporting dozens of additional jobs in logging, trucking, and sawmilling.”
