Attempts to sell beleaguered Masterton timber and haulage company Renalls Ltd have began in earnest with the multi million dollar business being advertised for sale.
Renalls went into receivership last month but has remained up and running as the receivers try to sell it as a going concern.
Brendon Gibson, of Ferrier
Hodgson, Auckland, said information on Renalls had been circulated to likely buyers within the industry, and some of the assets of the company had been put on the market.
He said it was now a matter of working out the process of receiving bids for the sale of the company.
Meanwhile, Renalls would stay open and continue working.
Renalls employed over 30 workers at the time of going into receivership and has avoided laying any off.
It built a multi-million dollar sawmill and timber processing plant at Waingawa near Masterton after the closure of the freezing works there.
The export lumber business ran in conjunction with a woodchip mill and a log haulage business.
Renalls gained a reputation within the timber industry as a hi-tech operation that used computer imaging to optimise timber cuts and slash wastage.
A significant part of the assets likely to be sold will be sophisticated equipment used in the wood cutting process, along with heavy duty logging vehicles.
- WAIRARAPA TIMES-AGE (MASTERTON)
