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I n c o r p o r a t i n g A U S T R A L A S I A N F O R E S T L O G G E R & S AW M I L L E R AUGUST 2017 • www.timberbiz.com.au
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Heyfield mill has a solid future, says Minister T
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HE VICTORIAN Government decision to buy Australia’s largest hardwood sawmill at Heyfield in Victoria’s east will reverse plans to shut it down and stop the loss of up to 250 jobs. Australian Sustainable Hardwoods (ASH) had been locked in a dispute with the Government and Stateowned logging company VicForests over the amount of timber supplied to the mill. Agriculture Minister Jaala Pulford said in a statement that the Government had reached an in-principle agreement with ASH shareholders to buy the mill, subject to due diligence checks. The Government’s offer was based on multiple independent assessments of the business and standard commercial valuation benchmarks. [It is believed the sale would go ahead as
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Need remains for long-term wood supply
this edition was going to press.] “The Labor Government has reached agreement with the ASH shareholders to buy the Heyfield Timber Mill,” the statement read. The dispute centred on a move by the state logging agency, VicForests, to slash the mill’s timber supply from 130,000 cubic metres to 80,000 cubic metres. Last month, the company announced plans to make 50 positions redundant by August. Ms Pulford said the mill’s existing managers would remain in charge under the Government’s plan. She would not reveal how much the mill would cost the Government. “This is a very viable business. The transfer of ownership will set this mill up for a very solid future,” Ms Pulford told ABC Gippsland. Continued on page 8
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