Feb 02, 2011. /Lesprom Network/. Forest products company Gunns Limited has finalised the $48 million acquisition of the former FEA Bell Bay softwood sawmill near Launceston, as the company said in a press release received by Lesprom Network. The mill, which was built in 2008, will process about 450,000 tonnes of sawlogs a year, with project annual revenue of approximately $85 million. Managing Director Greg L’Estrange said: “We have identified significant synergies and production benefits which can be obtained by processing all of the softwood from the Bell Bay and the former Scottsdale sawmill through this modern facility. We are confident that achieving these benefits will provide long term security for the business. We have been operating and managing the sawmill since December, which has ensured continuity of employment for the employees at the site.”