A net profit of NZ$133m was recorded by Carter Holt Harvey (CHH), the New Zealand forest products company, during the first nine months of 2002.
The profit compares with a break even position for the same period last year. Net sales were NZ$3.05bn, compared with NZ$2.96bn in 2001, with all business areas performing better, particularly wood products.
The company has also entered a conditional agreement to buy Starwood Australia’s MDF plant in Tasmania for about A$50m. CHH hopes to tie up the deal by December and plans to consolidate the business into CHH Pinepanels.
The plant has an annual capacity of 180,000m3.
