Forestweb Grows Portfolio, Acquires Reel Time
Thursday, November 13, 2003
LOS ANGELES, Nov. 12 -- Forestweb Inc. announced today its acquisition of The Reel Time Report, a monthly analytical service providing accurate, independent analysis of publication-grade paper markets. By bringing The Reel Time Report into its portfolio of information products, Forestweb furthers its commitment to provide the best independent analysis for each sector of the forest products industry. Under the terms of the agreement, Ross Hay-Roe, editor, and Verle Sutton, publisher, will continue writing the 7- to 10-page monthly report, contributing their editorial expertise and market analysis. The arrangement is structured to guarantee that subscribers see no change in editorial content or quality. "This strategic acquisition confirms Forestweb's commitment to provide the best possible coverage for every sector of the industry," Rami Ghandour, CEO Forestweb, stated. "Reel Time subscribers will benefit from Forestweb's innovative technology and will have the option to access critical Reel Time prices and analysis through the iiHub," he concluded. The acquisition of Reel Time, the second for Forestweb, is the most recent in a series of expansion steps initiated by president and COO, T.J. Coombs, to meet the needs of Forestweb's rapidly growing client base. Client companies, representing every sector of the forest products industry, include recognized names such as International Paper, Weyerhaeuser, Canfor, GL&V, Voith, Metso, Hancock Timber Resources, Molpus, and others. To continue to build and support its rapid growth, Forestweb has expanded its sales and operation staff in its Atlanta and Los Angeles offices and added dedicated coverage for both solid wood and recovered paper markets through its San Francisco-based editorial office. Ola Jane Gow, publisher, Forestweb, noted, "With this acquisition, Forestweb is well-positioned to expand its presence as an information provider to the publishing, printing, and catalog end-use markets. The Reel Time Report's consistently accurate paper prices, forecasts and analysis, coupled with Forestweb's industry intelligence hub provide publishing executives, production managers, and purchasing departments the comprehensive intelligence needed to make well-informed business decisions about their paper purchases."