Gunns' SA timber treatment plant sold

The first sale since Gunns Ltd. went into voluntary administration three weeks ago is for the failed timber company’s timber treatment plant in Kalangadoo, South Australia, reported ABC News on Oct. 18. The sale was closed on 19 October for an undisclosed amount after contracts were exchanged on 16 October. The buyer and other details were not disclosed.

The Tasmania-based timber company’s two sawmills in Bell Bay, Tasmania, and Tarpeena, South Australia, were put onto the market on 19 October, ABC News reported. The sale of the Kalangadoo plant will ensure that Gunns’ sawmills retain their treatment contracts, said Michael Smith, a spokesperson for receiver KordaMentha, which handled the sale.

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