Australian timber firm Auspine has streamlined its operation in anticipation of a housing slump this year.
The company shed more than 10% of its workers in 2002 and parts of its business were simplified, modified or even sold.
Despite gloomy housing predictions from economists, orders for the first quarter of 2003 are reportedly encouraging and woodchip exports to Japan are picking up.
Auspine, which has annual sales of A$210m, is modernising its three sawmills in a three-year project costing up to A$70m.
