Buyer found for Gunns sawmills

A buyer has been found for the assets of the troubled timber products company, Gunns, meaning 380 former staff in two states will keep their jobs.

Sydney-based New Forests will buy the sawmills at Bell Bay in Tasmania and Tarpeena in South Australia, as well as a national sales and distribution business.

Gunns' receiver Korda Mentha says there were dozens of expressions of interest.

It is understood the sale will go ahead late next month.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9336+0.0003+0.04%
    AUDUSD=X
    0.5560+0.0002+0.04%
    AUDGBP=X
    0.6758+0.0002+0.03%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg