Carter Holt Harvey (CHH) is to shut its Rainbow Mountain green mill near Rotorua, New Zealand with the loss of around 150 jobs.
The company said a strong NZ dollar, slowing demand and rising costs are causing the company to undertake restructuring to mitigate adverse market conditions.
CHH, which has just announced NZ$31m third-quarter profits, said the mill will continue to employ around 40 people in secondary processing, dry mill, kiln drying and despatch.
Cuts are also expected at CHH’s MDF plants which are struggling with currency and rising resin costs.
