OneFortyOne Plantations (OFO) has signed a sale agreement with Carter Holt Harvey (CHH) for the purchase of the Jubilee Highway sawmill in Mount Gambier, and the Woodchip operations at Portland, as the company said in the press release received by Lesprom Network.
While the acquisition remains subject to approval by the Australian Competition and Consumer Commission, the signing marks the next stage of the sale process. OFO has no plans to expand the mill going forward.
OFO is a leader in the Australian forestry industry. It holds long-term harvesting rights to a softwood plantation estate in the Green Triangle region comprising over 80,000 hectares.
Jubilee Highway is a large sawmill in Mount Gambier, South Australia. Jubilee Highway processes softwood sawlogs into structural timber products (i.e. structural framing timber which is used in residential and commercial construction of wall frames and roof trusses).
