10,000 staff, forestry assets, diversified wood, pulp and paper manufacturing plants and retail operations across Australasia, as well as several Chinese factories. They formerly were involved in consumer products, with leading positions in the Australasian market for: tissues and paper towels, under brands such as Purex, Sorbent and Handee; nappies, under the Treasures brand; and hygiene products such as Libra pads and Tena incontinence products (under Sancella, a 50–50 joint-venture with SCA). The consumer operations, with 2004 sales of approximately NZ$765 million, was sold to Swedish Svenska Cellulosa Aktiebolaget (SCA) for NZ$1 billion in 2004. The then fourth-largest listed company in New Zealand by market capitalisation was taken into private hands by Rank Group Investments Limited, controlled by New Zealand's richest man, Graeme Hart. The lock-in offer of NZ$2.50 per share for International Paper's 50.5% stake valued it at around NZ$1.65 billion, with the company valued at approximately NZ$3.5 billion. Carter Holt Harvey's last year in public ownership involved a 77% drop in net profit, which the company blamed on challenging trading conditions such as difficulties in export markets, the strength of the New Zealand dollar and rising freight costs. The sale was completed that year and Carter Holt Harvey entered a new era under private ownership. Subsidiary of Rank Group (2005–present) Carter Holt Harvey has been significantly downsized since its reign as New Zealand's largest company ended in the 1990s. The splitting of the company reached its heights under the control of Graeme Hart, after 2005. Barely a year after being taken private, 250,000 hectares of Carter Holt Harvey's 290,000 hectares of forest land was sold to American forest manager Hancock Timber Resource Group (controlled by Canadian investment manager Manulife Financial). The forests, with an estimated book value of NZ$1.5 billion, were located in Northland, Auckland, the Central North Island, the Hawke's Bay and Nelson. Its dairy farming and other properties were also sold separately for approximately NZ$500 million. In 2014, Carter Holt Harvey Pulp & Paper, encompassing the Australia and New Zealand packaging business, Kinleith Mill, Tasman Mill and the Penrose paper mill, were sold to a Japanese joint-venture between the Oji Paper Company, one of the largest pulp and paper manufacturers in the world, and the Japanese government-backed Innovation Network of Japan (INCJ). The new company name is Oji Fibre Solutions. Oji already had operations in New Zealand, with investments in Hawke's Bay forestry assets under the