Original article by Samantha Hutchinson
The Australian – Page: 7 : 4-Jul-17

The Victorian Government has entered into an agreement to acquire a majority stake in the Heyfield timber mill in the Latrobe Valley. The mill has been under threat of closure, with the potential loss of 250 jobs, due to insufficient supply of timber from state-owned forests. Agriculture and Regional Development Minister Jaala Pulford said the Hermal Group, the mill’s parent company, had agreed that there will be no loss of jobs while the sale process is being finalised. The Government is understood to have paid between $A38 million and $A42 million to conclude the deal.

CORPORATES
VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES, HERMAL GROUP, AUSTRALIAN SUSTAINABLE HARDWOODS, PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA