The Australian Forest Products Association has congratulated timber-manufacturing trailblazer Hyne Group’s new partnership with UK based timber processor James Jones & Sons. Source: Timberbiz
The deal comes at an exciting time for processing in Australia, especially with new opportunities in engineered wood products, chief executive officer of AFPA Ross Hampton said.
The Hyne Group last week announced the partnership with UK-based James Jones & Sons Limited.
Under the terms of the partnership James Jones & Sons Limited holds the majority interest, almost 60% with more than 40% being retained by the Hyne Group’s existing shareholders, including the Hyne family. JJSL has been involved in similar, successful partnerships in the past, including a 25-year joint venture and ownership of Stella-Jones Inc in North America.
“Hyne is one of Australia’s oldest and most respected names in timber processing and manufacturing,” Mr Hampton said.
“It’s a family company that has literally helped build Australian homes over more than a century while underpinning economic activity and local jobs in Tumbarumba in NSW, Wodonga in Victoria, and Maryborough in QLD. More recently the business has been expanding into the new frontier of EWP design and construction.”
The partnership comes as the Federal Government backs EWP through a new $300 million Clean Energy Finance Corporation fund designed to turbocharge the use of timber in construction.
“Through this fund the Government has recognised the critical role timber in construction can play in reducing emissions and helping Australia achieve its net zero by 2050 goal,” Mr Hampton said.
“Through their investment in EWP production, companies like Hyne have already recognised the importance of building more medium and high-rise constructions with timber and it is great the Government is backing more investment to improve Australia’s emissions footprint.
“Hyne’s partnership with James Jones & Sons augurs well for the business with increased demand for timber and the Government’s new EWP commitment, to continue Hyne’s tradition providing quality wood in construction in the future,” Mr Hampton said.
