agreed to form a central co-operative to cater for private growers’ needs. However NLK closed its timber division in 1981 and sold its share in CTC to NCT. CTC was registered as a co-operative in 1973 and a 10-year contract was signed with Sanyo-Kokusaku Pulp Company (now Nippon Paper Company Limited) and Sumitomo Shoji Kaisha Limited (now Sumitomo Corporation) to export wattle wood chips to Japan. The new co-operative erected a chipping plant at Cato Ridge and a ship loading facility in the port of Durban. Its first vessel sailed from Durban in 1975. In March 1982, CTC opened its Richards Bay mill and went on to achieve peak volumes in 2004 by exporting 67 shipments (or 2.4 million tonnes). In June 1996, CTC, Sumitomo and Nippon Paper Industries entered into a joint venture, Forest Resources (Pty) Limited (Forestco). In 2005 Forestco became a CTC-owned subsidiary company with Nippon SC Tree Farms maintaining a preference share interest. Two timber estates were purchased, Longridge Estate (Paulpietersburg) and Lenjane Estate (Vryheid). Forestco played a vital role in strengthening the longstanding relationship between CTC, Sumitomo Corporation and Nippon Paper Industries. In 2008, sole members of CTC, NCT Forestry and TWK resolved to end their 11 6 0 Y e a r s a n d g r o w i n g
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