ResourceWise, the newly formed parent company of Forest2Market, Fisher International and Tecnon OrbiChem, has acquired Wood Resources International (WRI). WRI is the publisher of Wood Resource Quarterly (WRQ), a market report that tracks sawlog, wood chip, lumber, and pellet prices on a global basis.
Effective immediately, the company will be known as Wood Resources International, a ResourceWise company. Håkan Ekström, Wood Resources International's President, will join the ResourceWise team. Terms of the acquisition, which became effective March 31, 2022, were not disclosed.
ResourceWise is a group of companies that provide data, analytics, and market insight to natural resource-based commodity markets. Currently serving the global forest products and chemical value chains, the company's mission is to expand into other commodity markets as well.
"The addition of WRI to the ResourceWise family supports our long-term objective to be the leading source of data and analytics platforms to a range of global commodity markets," said Pete Stewart, the CEO of ResourceWise. "With the acquisition of WRI, ResourceWise gains not only Ekström's more than 30 years of global forest products industry experience, but also wood fiber price data for more than 20 countries over the course of 25+ years. This data will augment the data that Forest2Market has collected in North America for 22 years, and Ekström's expertise will allow us to more robustly cover the analytics and consulting needs of our customers worldwide."
"I am looking forward to contributing my experience tracking global wood prices and forest products trade to the unmatched analytical expertise and data resources at ResourceWise," says Ekström. "International trade of forest products and wood raw materials are steadily increasing, which underscores the need for up-to-date and reliable market intelligence. Merging WRI's extensive database of global wood prices with ResourceWise's databanks and business intelligence platform positions the expanded company to be the leading source of insights in international wood product markets."
ResourceWise was founded in 2021 as a parent brand for a group of companies that provide data, analytics and insights to the forest products, pulp & paper, and chemicals industries.