Two potential buyers of failed timber company Gunns' permits and site for proposed pulp mill in Tamar Valley, Tasmania, anxious to 'negotiate straight away' once sale of Gunns' plantation estate closes in July, says receiver KordaMentha

Debra Garcia

LOS ANGELES , June 6, 2014 (Industry Intelligence Inc.) – Negotiations on the sale of failed timber company Gunns Ltd.’s proposed pulp mill permits and site in Tamar Valley, Tasmania, are expected to continue as early as the latter part of July, reported The Examiner on June 7.

The two potential buyers are “ready to negotiated straight away,” said Michael Smith, spokesperson for KordaMentha, the receiver for Gunns.

However, KordaMentha wanted to complete the sale of Gunns’ plantation estate to buyer New Forests, and that deal is expected to be formally sealed by the courts on July 17, The Examiner reported.

It might be more challenging to sell the pulp mill permits and site of the proposed project now that the trees that would have supplied the mill with pulpwood feedstock have been sold.

New Forests, which bought the forestry assets formerly owned by Gunns for about A$330 million (US$308.1 million), was not interested in the pulp mill site and permits, reported The Examiner.

The primary source of this article is The Examiner, Launceston, Tasmania, Australia, on June 7, 2014. Click here to view full version of primary source's original article.

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