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.

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