Australian company Hudson Timber & Hardware Ltd plans to separate its merchandising and frame/truss divisions.
Hudson directors say the sale of merchandising operations in a management buyout is best for the long-term future of employees, customers and suppliers, as well as giving “ultimate value” to shareholders.
The deal, supported by a major private equity group, is expected to be completed by May 31. The company will continue to operate the frame and truss business, plus Australian Hardboards and I-Beam.
