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AUSTRALIA'S SOTICO SELLS TIMBER MILL TO AUSWEST.

AsiaPulse News

| May 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, May 1 Asia Pulse - Wesfarmers' (ASX:WES) forest products subsidiary Sotico announced it has signed an agreement with Auswest to sell its Pemberton timber mill.

Sotico said the agreement covered the Pemberton karri mill plus log and timber stocks, some company-owned houses and additional equipment to be relocated from Sotico's Welshpool Processing Centre.

The agreement with Auswest was subject to a number of conditions covering site environmental issues, financial assistance from the West Australian government and the transfer of government leases and log contracts, it said. ...

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Source: HighBeam Research, AUSTRALIA'S SOTICO SELLS TIMBER MILL TO AUSWEST.

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