CAH buys Australian sawmill

The forestry products company says it has bought a sawmill in Morwell, along with the mill's related sales and marketing operations.

CAH says the purchase complements the strong base it already has in wood processing in Victoria, South Australia and New South Wales.

Chief operating officer, Devon McLean, says it will allow the company to further enhance services to its Australian customers, particularly as Australia moves to a position of self-sufficiency in fibre supply.

"This acquisition, along with recently announced investments in the upgrade of our joint venture mill at Oberon and the commissioning of a new LVL mill at Marsden Point in New Zealand, reaffirms our commitment to the wood processing industry.

"Carter Holt Harvey looks for opportunities where a business is performing well and where we can add value because of our expertise."

Mr McLean says while the Australian building industry is currently facing its sternest test in a decade, the fundamentals for the company's investment remain strong.

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