News
Kimball International to Sell 27,212 Acres
COLUMBIA CITY, Ind.-(Business Wire)-September 3, 2008 - Kimball International Inc., headquartered in Jasper, Ind., will sell 27,212 acres of land in Kentucky and southern Indiana at auction in three events Nov. 6-8, with Woltz & Schrader Auctions managing the sale.
“Kimball has managed the land with a great deal of care, and their efforts have paid off in an estimated 68 million board feet of sawtimber currently on the land. The property has been well managed for the production of quality hardwood sawtimber. Timber harvesting activities have been designed to selectively remove low quality species and stems favoring the better quality growing stock resulting in residual stands of quality sawtimber,†said Rex Schrader, president of Schrader.
Taken as a whole, the Kentucky and Indiana properties include an estimated 14.7 million board feet of White Oak, 8.9 million board feet of Yellow Poplar and 5.5 million board feet of Black Oak, with large quantities of Hard Maple, Northern Red Oak, Ash and other hardwood species.
Following is a breakdown of the properties being sold:
Thursday, Nov. 6 (French Lick Hotel & Conference Center, French Lick, Ind.): 9,422 acres in Indiana’s Orange, Martin, Dubois, Crawford, Lawrence and Perry counties.
- Total estimated 28 million board feet of sawtimber. High-value species include estimated 6.45 million board feet of Yellow Poplar, 5.5 million board feet of White Oak, 2.9 million board feet of Black Oak, and 2 million board feet of Hard Maple.
Friday, Nov. 7 (Farm Bureau Community Building, Brandenburg, Ky.): 6,031 acres in 55 tracts, including:
- 690 acres in Indiana’s Perry, Harrison and Crawford counties
- 5,341 acres in Kentucky’s Meade, Breckenridge and Butler counties
- Estimated 16 million board feet of sawtimber. High-value species include estimated 5 million board feet of White Oak, 1.25 million board feet of Yellow Poplar, 1.1 million board feet of Black Oak, and 1.06 million board feet of Northern Red Oak.
Saturday, Nov. 8 (Union High School, 4464 U.S. Highway 60W, Morganfield, Ky.): 11,759 acres in 71 tracts in Kentucky’s Crittenden and Union counties. This property includes the famous hunting property known as “Game Trails,†as well as 2,640 acres of cropland and 940 acres of pasture and hay fields.
- Estimated 24 million board feet of sawtimber. High-value species include estimated 4.2 million board feet of White Oak, 2.3 million board feet of Cherry Bark Oak, 1.5 million board feet of Black Oak, 1.3 million board feet of Hard Maple, and 1.2 million board feet of Yellow Poplar.
- Property has been concurrently managed by Kimball for maximum timber production and by Game Trails for optimal deer hunting.
Woltz & Schrader Auctions is the nation’s leading auctioneer of agricultural, recreational, timber and other types of land throughout the United States. Additional information is available at www.schraderauction.com.
Kimball International, Inc. (NASDAQ: KBALB) provides a variety of products from its two business segments: the Furniture segment and the Electronic Manufacturing Services segment. The Furniture segment provides furniture for the office and hospitality industries, sold under the Company’s family of brand names. The Electronic Manufacturing Services segment provides engineering and manufacturing services which utilize common production and support capabilities to a variety of industries globally. Additional information is available at www.kimball.com.
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