Consolidated-Tomoka Land Co. (NYSE Amex: CTO) today announced the engagement of American Forest Management, Inc. to manage timber and hay operations for the Company.
American Forest Management, Inc. is one of the largest forest consulting firms in the United States. American Forest Management, Inc. currently manages over 4.5 million acres of timberland.
John P. Albright, President and Chief Executive Officer of the Company, stated: “We are pleased to partner with American Forest Management, Inc. and look forward to utilizing their expertise in managing our approximately 10,800 acres of timber and hay lands. This new approach to our agricultural lands should significantly reduce costs and enhance revenues of our agricultural operations.”
About Consolidated-Tomoka Land Co.Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns over 11,000 acres in the Daytona Beach area and a portfolio of income properties in the Southeastern portion of the United States. Visit our website at www.ctlc.com. "SAFE HARBOR" Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.