Wood processor Southern Cross Forest Products tipped into receivership

Mon, 03 Mar 2014

By Paul McBeth March 3 (BusinessDesk) - Southern Cross Forest Products, which operates five sawmills across the country, has been tipped into receivership as wood processors continue to struggle with global demand that has pushed up log prices. KordaMentha’s Brendon Gibson and Michael Stiassny were today appointed receivers of the Dunedin-based company, and will look to find a buyer for the profitable parts of its operations. “The core business is profitable, but as with others in the sector, Southern Cross has suffered in a difficult ind...

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