ACCC opposes Gunns’ ITC acquisition
November 26, 2009
The Australian Competition and Consumer Commission will oppose Gunns’ acquisition of ITC Timber due to concerns the sale would diminish market competition.
Gunns announced at the end of August it had agreed to owner Elders’ terms of sale for the timber processing division of ITC, which is separate to the forestry and managed funds sections of the business and includes mills in Victoria, Tasmania and New South Wales. Read more
Gunns closer to control of Great Southern
November 24, 2009
Gunns appears set to take control of 42,000 hectares of Green Triangle plantations established by failed agribusiness Great Southern.
The Tasmanian timber giant has reached the final stages of negotiations to acquire the assets after previously building a strong presence in the region by buying Auspine and starting development of a major woodchip export terminal at the Port of Portland. Read more
Gunns commits to hardwood chip facility
November 2, 2009
The Port of Portland has today welcomed the signing of a lease by Gunns Limited committing it to develop and operate a second hardwood chip facility at the port.
The lease was approved and signed by the Boards of Gunns Limited and Port of Portland Pty Ltd following three months of negotiations and due diligence on the port site. Read more
50-year milestone in timber industry
September 8, 2009
Donald Burns has seen the region’s timber mills transformed by huge developments in technology, safety and worker comfort over his half a century in the industry. Read more
Gunns confirms interest in Timbercorp
August 31, 2009
Tasmanian timber giant Gunns has publicly confirmed speculation it will seek to expand its growing forestry venture by acquiring a stake in the assets of collapsed managed investment scheme companies Timbercorp and Great Southern.
Gunns announced a $56.2m full-year profit to the Australian Stock Exchange yesterday, a decline of 4.9pc on the previous year. Read more
Gunns eyes plantation assets
July 31, 2009
Gunns has emerged as a potential bidder for Timbercorp and Great Southern’s bluegum assets on the back of the announcement it has been chosen as the preferred provider of a second hardwood chip facility at the Port of Portland.
The port infrastructure announcement yesterday signalled a major step towards cashing in on the Green Triangle’s extensive bluegum estate. Read more
Challenges ahead for timber industry
February 18, 2009
A South East industry leader has warned the local timber and forestry industries face challenging times.
Gunns harvesting and export manager Michael Plummer represents these sectors on the Limestone Coast Regional Development Board. Read more
Bluegum exports expected to fall
February 4, 2009
Tasmanian timber giant Gunns, which acquired Auspine last year, has publicly confirmed the economic downturn will lead to cuts to Australian bluegum exports.
“Discussions with customers in the Japanese market have indicated an expectation of continuing reductions in activity in paper production in line with lower activity in the Japanese economy,” company secretary Wayne Chapman said in a statement to the Australian Securities Exchange this week. Read more
Gunns may quit old convent building
February 3, 2009
Timber giant Gunns Ltd has said the company could remain based in Mount Gambier’s old convent building if a sub-tenant can be found.
Gunns Timber Products chief executive Greg L’Estrange said the company was in the process of integrating Auspine into the Gunns business. Read more
Gunns sells former Auspine plantations
November 25, 2008
Three quarters of the pine plantations formerly owned by Auspine in the Green Triangle have been sold to an American investment management firm for $175m.
Gunns Limited, which took over the South East timber giant in February, announced to the stock exchange today it had sold 33,000 hectares of softwood plantations in the region. Read more
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