Business

Local jobs secure after Mary Valley Mill sell-off

Imbil Mill.
Imbil Mill. Contributed

ONE hundred Mary Valley timber workers have been told their futures are secure after Hyne announced it had sold off its Imbil and Melawondi operations in the Mary Valley yesterday.

Hyne sold the Mary Valley mills to Superior Wood Pty Ltd, a company associated with the Finlayson Group for an undisclosed sum.

Hyne chief executive officer Jon Kleinschmidt said all staff were being transferred to Superior Wood Pty Ltd, 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 will now focus on its core businesses of structural softwood timber production and distribution, continuing to thrive for the benefit of customers, staff, shareholders and the communities in which they work."

Hyne Chairman Martin Kriewaldt said the focus on core business had been made necessary by changing business conditions.

"The Australian timber industry has been adversely affected by a number of external forces including a downturn in construction activity, high exchange rates and strong import competition.

"Hyne has not been immune from these pressures," Mr Kriewaldt said.

"A number of hard decisions have been taken by the company in recent years.

"To stay efficient and competitive we need to concentrate on our strengths, and that's what we're doing."

Hyne family member Chris Hyne said the decision to sell the Mary Valley business was hard to reach.

"Hyne has invested heavily in the development and production of Araucaria as a plantation species and high quality timber, particularly in the Mary Valley," Mr Hyne said.

"Since 1882 Hyne has been instrumental in the development of the Queensland timber industry and have a long history of involvement in Araucaria.

"We will continue to strive to be the supply partner of first choice for our customers."

Mr Kleinschmidt said the sale to Superior Wood would enable development of an alternate business model to best utilise the unique properties of Araucaria timber.

"The Finlayson Group has a track record of investing in Araucaria production in the form of high tech value adding technology, product innovation and development of channels to market," Mr Kleinschmidt said.

Superior Wood Director Skene Finlayson said he was confident the Araucaria industry would benefit from the amalgamation of the Mary Valley operations with existing Group operations.

"Our focus is in value adding and remanufacturing of the Araucaria product, and the additional sawmill capacity will provide new opportunities to expand and improve our product range," Mr Finlayson said.

"We are pleased to offer all the existing staff their jobs under the same terms and conditions they have been entitled to while working for Hyne, and I'll be mindful of minimising the impact of the change.

Mr Finlayson also acknowledged the outstanding contribution both the Hyne family and their staff had made to the Araucaria sector over many generations.

"I look forward to working closely with the Mary Valley team and supporting their efforts."

Gympie Times

Topics:  hyne timber mary valley property



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

'Terrifying' weather forces Gympie Touch to postpone A-Grade final - latest available results

TOUCHED: Lily McGrath plays her part in an action-packed Gympie High B Grade Mixed event.

"Terrifying” conditions force postponement of Touch A-Grade

Highway hold-ups for holiday drivers

DRIVING DELAYS: Motorists have been warned of roadworks hold-ups to Gympie's north.

Highway hold-ups north of Gympie the price of safety improvements

10 furry friends waiting for you at the Gympie RSPCA

Louey the Labrador.

Christmas is just around the corner, give these animals a merry one.

Local Partners

Jennifer Lawrence gives keys to new partner

Oscar winner Jennifer Lawrence

Oscar winner settling down with new partner

Rogue One star proud to lead new Star Wars film

Felicity Jones leads the new Star Wars film

Star Wars lead proud to be in front in sci-fi

What's on the small screen this week

Ernie Dingo stars in the TV series Going Places with Ernie Dingo.

ERNIE Dingo stars in a new travel series and Seven airs the AACTAs.

Mandy Moore feels like she's 60

Mandy Moore sees herself as a 60-year-old rather than a 32-year-old

Goooodbye Hamish and Andy (from our radios)

Hamish and Andy

The pair have been on air since 2006

David Attenborough on facing his mortality

Sir David Attenborough in a scene from the TV special The Death of the Oceans.

Life without Sir David Attenborough is hard to imagine

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Morrison signs off on new affordable rental model

Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.

Scott Morrison signed off on development of a new financing model

Coast high-flyer's fight back from bankruptcy, $72m debt

Scott Juniper went from millionaire developer to declaring bankruptcy in2012, now he is back on top of his game again with new developments including this one in Coolum.

'Apocalyptic lending storm' causes financial collapse.

How your home can earn you big $$$$ this Christmas

This luxury Twin Waters home rents out over Christmas for more than $6000 a week.

Home owners earning thousands renting out their homes this Christmas

Ready to SELL your property?

Post Your Ad Here!