Changing business conditions have forced Hyne Timber to sell its Imbil and Melawondi operations in the Mary Valley to Superior Wood Pty Ltd. Source: Fraser Coast Chronicle
The Australian timber industry has suffered in recent years, adversely affected by a downturn in construction activity, high exchange rates and strong import competition.
Hyne announced the sale on Monday and chief executive Jon Kleinschmidt said all staff were being transferred to Superior Wood, with all positions, conditions and entitlements maintained as a condition of the sale.
“This amalgamation of the Mary Valley operations with Superior Wood’s value adding and marketing expertise is necessary for the growth and prosperity of the industry as a whole,” Mr Kleinschmidt said.
Hyne family member Chris Hyne said the decision to sell the Mary Valley business had been hard to reach.
“Since 1882 Hyne has been instrumental in the development of the Queensland timber industry and has a long history of involvement in Araucaria,” he said.
“We will continue to strive to be the supply partner of first choice for our customers,” he said.
Hyne will now focus on its core businesses of structural softwood timber production and distribution.
