New Zealand MDF busi­ness changes hands

New Zealand Logger - - Forest Talk -

THE DONGWHA-OWNED MEDIUM DEN­SITY Fir­be­board (MDF) plant at Mataura in the lower South Is­land is chang­ing hands.

Ja­panese build­ing ma­te­ri­als man­u­fac­turer, Daiken Corp. is set to ac­quire Dongwha New Zealand at the end of De­cem­ber, pend­ing clear­ance from the Com­merce Com­mis­sion, as part of a plan to ex­pand its sales of medium-den­sity fi­bre­board. The size of the deal has not been an­nounced, but it is thought to be around 10 bil­lion yen ($89.7 mil­lion). Dongwha NZ’s par­ent com­pany is based in Hong Kong and its sales here were $91.59 mil­lion for the last fi­nan­cial year.

Both com­pa­nies pro­duce medium-den­sity fi­bre­board and Daiken says it is look­ing to pro­mote the prod­uct’s use more in the fu­ture. Daiken al­ready has pro­duc­tion cen­tres in New Zealand and Malaysia and is hop­ing to ex­pand op­er­a­tions through Dongwha’s sales net­works in Ocea­nia and North Amer­ica. NZL

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