Four major paper companies said they intend to spend $60 million over five years to form a biotech joint venture to improve forestry health and productivity worldwide. The companies, Fletcher Challenge Forests , International Paper , Monsanto Co and Westvaco Corp , said the joint venture will produce and market tree seedlings, focusing on the majority of those now planted by the forest industry. The companies said as international demand for wood and fiber increases, there will be significant business opportunities for additional breakthroughs in forestry science.