Southern Cross Forest receiver to close sawmill, wind up Australian business

Wed, 23 Apr 2014

April 24 (BusinessDesk) - The receiver for Southern Cross Forest Products plans to shut one of the failed wood processor’s sawmills and wind up the unprofitable Australian business as it continues to find a buyer for the business. A fire at the company’s Mosgiel mill cut drying capacity, reducing capacity to process timber, KordaMentha’s Brendon Gibson said in a statement. To stabilise productivity across the group the receiver will close a sawmill at Rosebank, and Gibson said 79 jobs will be lost across South Cross Forest’s South Island sit...

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