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Landmark deal reached to save ancient redwoods in California

Headwaters Forest
Headwaters Forest   

March 2, 1999
Web posted at: 4:22 p.m. EST (2122 GMT)

SCOTIA, California (CNN) -- Government authorities and Pacific Lumber Co. executives reached a late-night agreement Monday on a $480 million deal to save the Headwaters Forest, the largest remaining grove of privately owned ancient redwoods in Northern California.

The landmark pact was struck seven minutes before a midnight deadline and follows intense weekend negotiations to salvage the deal after it nearly fell apart late last week.

The plan calls for the purchase of 10,000 acres of ancient redwoods in Northern California, about 250 miles north of San Francisco, and imposes heavy protections for streams and wildlife habitats in the area for 50 years.

The agreement follows three years of talks between federal and state governments and Pacific Lumber, which is owned by Maxxam Corporation.

Negotiations were stalled on Friday after Pacific Lumber rejected the deal, saying it would leave the company uncompetitive and hurt its economic viability.

After the deal apparently fell through, California Gov. Gray Davis pledged to "do what I have to do to protect those redwoods."

Both sides then held further discussions over the weekend, with government officials providing enough assurances to Pacific Lumber that they can remain competitive if they accepted the deal.

Plan to save majestic California redwoods rejected
February 27, 1999
Tree-hugger lives atop Redwood to save forest
June 22, 1998
Logging protesters file suit over use of pepper spray
October 31, 1997

Headwaters Forest Earth First!
The Pacific Lumber Company
   •Headwaters Forest and The Pacific Lumber Company...
Headwaters Forest
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