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27,000 acres being offered at auction
PERRY COUNTY - Kimball International plans to sell 27,000 acres it owns in Indiana and Kentucky, a decision that will place four tracts of Perry County forestland, totaling about 480 acres, on the auction block.
The Jasper-based company announced this month it will auction its large holdings of undeveloped land used for many years to provide lumber for its manufacturing operations. Auctions dates are Nov. 6-8.
According to Jim Thyen, Kimball's president and chief executive officer, the decision to sell the property was carefully considered by the company's board of directors and was made for a number of business reasons.
"When the company operated its own lumber mills as part of its vertical integration model, the timberlands supported our manufacturing operations. But since we are no longer vertically integrated, our properties are now managed as a financial investment," said Thyen.
Kimball share owners will be better served by converting the company's land investments into cash to fund the company's growth strategies in both its furniture and electronics businesses, he added.
Kimball began acquiring properties in 1963 to ensure a secure supply of wood, its primary raw material, and has been recognized for using longterm, sustainable forestry-management practices.
The company has worked with state departments of Natural Resources, Fish and Wildlife, the Nature Preserves Commission, and The Nature Conservancy, to set aside portions of its forest tracts for preservation, along with research projects coordinated with the University of Kentucky and Purdue University.
Four Perry County Tracts
A 200-acre tract of land north of Interstate 64 will be auctioned in four portions Nov. 6. The auction for that tract will be held at the French Lick Resort and Casino Conference Center. More than 3,000 acres in Perry, Crawford, Dubois and Orange counties will be auctioned that day.
The three other Perry County tracts, totaling 280 acres, will be offered for sale Nov. 7. A 160-acre tract not far from the Ohio River in Tobin Township will be offered in four sections, while an 80-acre parcel in Oil Township will be offered in three sections. A 40-acre tract in Clark Township will also be sold.
Also to be auctioned off Nov. 7 will be tracts in Crawford and Harrison counties in Indiana and more than 5,300 acres in Breckinridge, Meade and Butler counties in Kentucky. That auction will be held at the Meade County Fairgrounds in Brandenburg, Ky.
More than 11,000 acres of Kimball-owned land in Union and Crittenden counties in Kentucky will be auctioned Nov. 8 in Sturgis, Ky.
More information can be obtained by calling the auction company handling the sale, Woltz & Schrader, at (800) 451-2709 or at the company's Web site, www.schraderauction.com.