Melbourne-based OneFortyOne Plantations (OFO) has announced it is in advanced discussions to acquire the Jubilee Highway sawmill in Mount Gambier and the Woodchip operations at Portland from Carter Holt Harvey.
OFO CEO, Linda Sewell described the intended acquisition as further evidence of the company’s strong commitment to the Green Triangle. “Our company’s purpose is to build a dynamic industry in and around our forest. Today’s announcement represents a landmark investment, combining OFO’s world class forest with a significant regional mill. This is a great business and it is an excellent opportunity to provide security to the local forestry sector, creating benefits for everyone,” Ms Sewell said.
“Going forward we have no plans to expand the mill. We will continue to manage the forest estate on a sustainable basis and meet our obligations to the State for an average age of clearfall of 32 years or greater,” said Ms Sewell.
OFO is pleased to confirm there will be no job losses as a result of the change of ownership of the Jubilee Highway mill. OFO also confirms that it continues to evaluate the feasibility of its proposed greenfield particle board mill and expects to have more news on this project in the next six months following successful completion of the Jubilee Highway acquisition.
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).