Gunns sells hardwood business for AU$28mFriday 18 May 2012 Gunns announced this week that a contract for the sale of its Heyfield hardwood sawn timber business had been executed, with the deal expected to wrap up in late May. "Completion of this transaction will finalise the exit of the company from operations based on native forest wood supply," Gunns said in a statement on Tuesday. The new owners, Australian Sustainable Hardwoods have announced that all 200 employees are expected to keep their jobs. Gunns stopped processing native forest woods in Tasmania in June 2011 and has since sold its mainland-based operations in Western Australia and Victoria. It has also received offers for its export woodchip operations, including the Port of Portland facility in western Victoria. |
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