©Hyne Group

Australia’s Hyne Group announced it has commenced a strategic review of its XLAM Cross Laminated Timber (CLT) manufacturing business. Whilst XLAM has been the southern hemisphere’s pioneer and leading manufacturer of CLT, the division’s specialist focus on the commercial construction sector has limited alignment with the Hyne Group’s continued targeted expansion in Australia and New Zealand… The review will assess all scenarios, but the preferred outcome is to secure a new owner with the capability, passion and commitment to build on XLAM’s strong foundation, continuing to manufacture Cross Laminated Timber and providing specialised design and engineering services that support sustainable, carbon-storing construction throughout Australia, New Zealand and the broader southern hemisphere. The Group has therefore commenced a formal process to seek expressions of interest from suitably qualified parties within Australia and New Zealand, as well as North America and Europe.