Ian McDonnell
The AAM Investment Group has agreed to terms for the purchase of the Mount Gambier-based NF McDonnell & Sons softwood timber processing business, with finalisation of the sale scheduled to be completed before the end of November 2021. Source: Border Watch
Established in 1944 by Newman McDonnell, the company has been owned by the McDonnell family for four generations.
The business employs around 125 people at its Suttontown Mill and processes just over 400,000 tonnes of softwood log resources per annum.
AAM Investment Group General Manager of Innovation and Sustainability, Ben Edser, said AAM was looking forward to upholding the legacy of NF McDonnell & Sons.
“With more than 530 people already employed across 31 sites in five states, one of AAM’s most important priorities is investing in a way that has real and positive outcomes for rural and regional communities,” he said.
AAM is a Queensland-based Australian investment and management group with a focus on primary industries.
Its diverse 32 assets include the organic sheep and cattle operation Terrick at Blackall and the 33,000 head Legune cattle station in the Northern Territory.
The group has eight livestock selling centres as well as a softwood operation in central NSW, a poultry farm in South Australia and a PV energy generator under its control.
