This website has been prepared by GWD Forestry Ltd in connection with the company’s Brazilian eucalyptus projects. This website is being provided for the sole purpose of reporting the terms of the working relationship between the company to their clients (IFU Holders) and has been prepared in good will, as such all figures and data provided on this website are deemed to be correct at the time of publishing. This website and its contents have been distributed in confidence and may not be reproduced or distributed to third parties without the prior written permission of GWD Forestry Ltd.


This website has been prepared in order to report the harvest results and forestry operations achieved to date by GWD Forestry Ltd (Formally Greenwood Management ApS) in specific relation to the companies Eucalyptus forestry and charcoal projects located in the Western region of the state of Bahia, Brazil.

The GWD Forestry Ltd eucalyptus forestry and charcoal projects were initially proposed back in 2008 and officially launched in 2009. The projects continued in full for a further two years before the project was officially announced closed in 2011.

In November 2016, after a number of initial setbacks the company finally acquired the necessary harvesting licenses by INEMA in order for the company to start the extraction of eucalyptus timber produced from those sites established with eucalyptus crops at the start of the projects.

In 2017 and after substantial planning the company issued its clients with a detailed report as to the current market conditions and progressed under the individual direction of those client/s (IFU holders) wishing to harvest in line with the first phase of the companies eucalyptus plantings.

This website has therefore been developed in order to provide an in-depth and detailed resource to share information regarding the development of the projects through to harvest, whilst providing independent resources for individual clients in order for those clients to make informed decisions prior to notifying the company at harvest.

As such it should be noted by IFU holders as outlined in this report that there have been a number of substantial changes within the domestic wood products market and as such the Brazilian pig iron industry has been heavily affected. In addition Brazil’s current economic situation has led to a devaluation of the Brazilian Real (R$) in relation to the Euro. Therefore the company recommends that timber produced from individual FSU’s at harvest should be exported in the interest of obtaining the best possible pricing at harvest.

In order to facilitate this recommendation GWD Forestry has acquired relevant export licences in order to export timber to other regions, and has made a number of external plans outside of the scope of the original project and those agreements signed between the company and its client/s in order to bring added value to the projects as a whole.

Whilst clients of the company are free to direct the company individually of their wishes at harvest it is recommended that client/s utilise the information within this site prior to making any decisions.

As such IFU holders are advised to read through the information contained in this website in full prior to notifying the company as to their individual directions at harvest.

Failure on behalf of IFU holder/s to notify GWD Forestry of any changes they wish to apply prior to harvest may result in GWD Forestry ltd proceeding with its harvesting operations in line with agreements signed at the start of the projects in order for the company to fulfil its legal obligations to client/s.


GWD Forestry, UTAD, Reporting

UTAD Forestry Study

Guide To Abbreviations 

  • FSPU means “Standard Forestry Plantation Unit” an area allotted to a specific crop and / or clone type
  • IFU means “Individual Forestry Unit” subdivided area’s within each FSPU area
Eucalyptus, GWD, Forestry, Timber, Harvesting


In 2008 GWD Forestry (Formally Greenwood Management ApS) put forward the approved project proposal which focussed on the establishment of eucalyptus forestry crops on lands situated within the state of Bahia, Brazil.

The project (as a whole) planned to develop a number of key farm sites over several years, establishing those sites with eucalyptus crops which would subsequently be processed at harvest into charcoal for resale to the Brazilian pig iron industry. Launched in 2009 the project continued for a further two years until they were officially announced closed in 2011.

This site is provided to client/s in order to explain the steps taken prior to the launch of the project, through to the development of the project, current valuations obtained and to report the results achieved at harvest. This website provides a number of external sources in order for client/s to access unbiassed information relating to the current market conditions in order for clients to make informed choices prior to harvest.

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Over the course of several years GWD Forestry has maintained and developed several farm sites within the Western Bahia region of Brazil. The project development sections of this website have been put together to provide clarity in relation to the companies forestry activities from its initial planning stages to harvest and allows clients access to independent reports prepared by both UTAD reporting on the project and its development as a whole alongside a number of external sources such as reports prepared by ABRAF (The Brazilian Forestry Association) and others. Users are able to access in depth information related to the projects development on this site and we aim to provide clarity by providing users with access to development information, specific soil and climactic data, as well as independent valuations for those sites.

Alongside this data the company will look to provide in depth and verifiable information relating to harvest results and returns achieved. In 2017 GWD Forestry progressed with the final harvesting stage of the projects as such harvest results can be found in the harvest section of this website.

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Due to several changes within both Brazil as a whole and the domestic wood markets and pig iron industry, GWD Forestry recommends that client/s (IFU holders) should carefully read through the information provided within this site in order to make informed choices prior to receiving harvest notifications.

Due to the nature of the company we would like to remind all clients that is their sole responsibility to direct the company at harvest of their wishes. As such clients should review all agreements prior to harvest taking place and should contact GWD Forestry ahead of receiving harvest notification should they wish to make changes to terms shown in their agreements signed at the start of the projects.

Alongside the information provided to clients regarding the projects and their progressions on this site, we have endeavoured to provide accurate and up to date information related to the current domestic market and export opportunities that currently exist.

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