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15th November 2011

PRODUCT UPDATE- Relating to Hyne I-Beam

Market Update

Hyne has been reviewing its product range and market offer over the last few months based on the current and future economic outlook, and will be refocusing the business on our core strengths and capabilities to ensure it is well positioned to endure these challenging market conditions.
As part of this review process, the company has made the decision to withdraw from the supply of job lot LVL and I Beam products as well as ceasing to supply a free design and layout service associated with this product range.
 This move will see the closure of the Hyne I Beam manufacturing plant in Brisbane on 22 December 2011.
Hyne will continue to grow and develop its Glulam business (Hynebeam 17c, 18c and 21c) in both the residential and commercial sectors. Hyne will also continue to provide technical support and design services for these products as well as continuing to support the Hyne Design 7 software package.
Hyne will continue to stock a range of LVL products that will compliment the structural products marketed by Hyne.
These changes will allow Hyne to focus on its core structural softwood framing business, further developing the Hyne Frame / Hyne T2 Blue / Hyne T2 Red and Hyne T3 Green product brands.
While the current environment is very difficult, the Hyne Company has a strong future and this will enable the company to come together and continue to develop our people, our capabilities and make Hyne the supplier of choice with our customers.

Should you require further information regarding these changes, please contact:

Hyne Product Information Service– 1300 30 HYNE (4963) Or info@hyne.com.au

9th September 2011

SAWN TIMBER INDUSTRY WELCOMES AUSTRALIAN

CUSTOMS ANTI-DUMPING INVESTIGATION

Re: Formal Investigation Into Import Timber Pricing

The softwood plantation sawn timber industry today welcomed the Australian Customs Service’s announcement it would formally investigate the industry’s complaints that offshore companies are unfairly dumping structural timber products into the Australian market.

‘Dumping’ is when offshore companies sell products for below their true or normal value and/or cost of production in order to increase market share.  The Australian softwood plantation sawn timber industry - worth more than A$1.5 billion annually in revenue - believes unfair dumping of imported structural products occurred as traditional northern hemisphere markets collapsed. This has slashed the Australian industry’s sales volumes by more than 15 per cent since 2007/08, By contrast, imports from countries under Customs’ investigation rose by 33 per cent over the same period, in a contracting market.

Compared with 2007/08, the Australian industry’s performance is at substantially reduced levels – in terms of sales volumes, operating margins and profitability. The industry directly employs more than 5,500 people in regional Australia with at least another 5,000 contractors, casuals and others dependent on the industry. The regions affected are South East Queensland, Riverina/Murray Valley and Bathurst/Oberon in NSW, Mt Gambier in South Australia, Gippsland in Victoria, and the Bell Bay region of Tasmania.

“As a result of this dumping, the industry has experienced a dramatic reduction in profitability over the last two years, much more than would have occurred if imports were fairly priced,” said Mr Peter Hyne, General Manager at Hyne Timber, a key producer of softwood timber products, based in Queensland.  “The industry is not against competition or imports. But what we want is a sustainable and competitive industry with fair competition. That is ultimately in the interests of all stakeholders and customers.” Mr Hyne said.

Mr Hyne said that while the Australian companies had done all they could to minimise job losses, already the number of employees in the industry had dropped by six per cent over the last three years, not including contractors and casual staff, with more redundancies announced since March.

“If we do not take action now, there will be major long-terms impacts on our industry particularly in regional Australia, already doing it tough because of volatile economic conditions,” Mr Hyne said.

The Customs investigation is in response to an application by three companies which represent 75 per cent of the industry in Australia: Hyne & Sons, Carter Holt Harvey Woodproducts Australia and Gunns Ltd.

For further information call Amanda Buckley 0419 801 349 or Nick Maher 0408 386414

Telephone

1300 30 HYNE