New Forests announced yesterday that it has completed an agreement to purchase Gunns’ sawmilling, sales, and distribution business from the Receiver, KordaMentha. New Forests will acquire all the assets of Gunns Timber Products (GTP), including the Bell Bay and Tarpeena sawmills.
Temporary threat for Australian sawn timber producers
The Australian sawn timber industry is experiencing a temporary threat from imports as a result of a strong dollar and a global surplus of timber following the Global Financial Crisis, according to independent economic forecaster and industry analyst, BIS Shrapnel.
South Australia - SA forests sold to The Campbell Group
The South Australian state government has agreed to sell the South East timber harvesting rights to a consortium led by The Campbell Group (TCG) for an undisclosed amount. Backed by Australia’s Future Fund, the U.S.
The tough market for sawn timber is expected to continue over the next 15 months. Australian producers face increased pressure from imports as a result of the high Australian dollar and a global surplus of timber.
Log supply from Australia’s timber plantations is set to increase substantially according to a new report, released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
World’s tallest timber high rise building in Melbourne
The city of Melbourne has been revealed as the location for an architectural world first. New plans were unveiled last Friday showing that the city will receive a unique addition to its iconic skyline - the world’s tallest timber high-rise building.