Issue 241 Timber and Forestry

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The last shot Gunns under administration after Advertising: Tel +61 7 3266 1429 Email: cancon@bigpond.net.au

issue 241 | 01.10.12 | Page 1

Complete solid timber processing systems

more than a century in sawmilling

By JIM BOWDEN

Design awards PAY homage to wood

A SPECIAL REPORT

A dream lost .. former Gunns boss John Gay.

analyst Matthew Torenius says the administrator will determine whether Gunns can continue operating. “If not, you’re looking at a sale of assets and essentially a wind-up of the company,”

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A Better Earth Idea from Osmose

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he said. Mr Torenius said it may well be the end of the company “as we know it”. The fall of Gunns, although not

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WITH its original roots going back more than 100 years, Tasmanian timber company Gunns Ltd has gone into voluntary administration. The decision ends a desperate effort by the company to recapitalise and restructure in the face of losses of almost $1 billion and debts of more than $500 million. The company informed the Australian Securities Exchange that it was unable to continue trading and in a statement said it had been in talks with lenders (led by the ANZ Banking Group) seeking support for its plans for a capital raising or restructure – but those lenders were unwilling to provide further funds. Shadforth Financial Group

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A p N A pro o lu v w Co m e nt ini d F ac um or t*

MicroPro is GREENGUARD® Children and Schools Certified Greenguard® Children and Schools Certification indicates that a product has undergone rigorous testing and has met stringent standards for VOC emissions. In the USA, products certified to this criteria are suitable for use in schools, offices, and other sensitive environments.

Visit: www.osmose.com.au or phone: 1800 088 809 Osmose® and MicroPro® are registered trademarks of Osmose, Inc. or its subsidiaries. A Better Earth Idea from Osmose sm and Treated Wood Just Got Greener sm are slogan marks of Osmose Inc and its subsidiaries. MicroPro timber products are produced by independently owned and operated wood preserving facilities. GREENGUARD® is a registered trademark of GREENGUARD Environmental Institute. * See MicroPro fastener and hardware information sheet. © 2011 Osmose, Inc.

Advertising: Tel +61 7 3266 1429 Email: cancon@bigpond.net.au

issue 241 | 01.10.12 | Page 1


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