Carter Holt Harvey Limited (CHH) yesterday completed its purchase of Tenon Limited's structural timber business.
The purchase includes the flagship Kawerau Sawmill, a sawmill and roundwood operation at Rainbow Mountain near Rotorua, and a Plywood Mill at Mount Maunganui.
Chief executive Peter Springford said the business would be integrated with Carter Holt Harvey's own Woodproducts Business which would now have around 1,600 employees and a projected annual turnover of around $NZ600 million.
"With this purchase CHH is on track with its strategy to grow its business in core areas of strength; wood products, pulp, paper and packaging supported by forests. It brings in skilled people, quality assets and a diverse customer base to reinforce CHH's leadership in the New Zealand structural timber and plywood market," Peter Springford said.