Gould was the state’s second largest hardwood timber operator after the former Neville Smith group, which ITC acquired previously.
ITC now has a hardwood timber processing capacity of 300,000m3 of sawlogs sourced from regrowth native trees. Gould produced about 40,000m3 annually.
ITC chief executive Vince Erasmus said: “We can now process and value-add timber in various Victorian locations with resulting input cost efficiencies.”
The deal increases the corporate share of Victoria’s timber industry, which has traditionally been family owned.
