Coroner & Legal
Flatlining Gunns now faces $64m tax bill
Graphic: Tamar Devil
Tasmanian timber company Gunns is facing a multi-million-dollar tax bill.
The company has told the Securities Exchange that it has received two amended tax assessments that could cost it almost $65 million.
Gunns says the assessments relate to transactions in 2007.
…
The ailing company has recently foreshadowed major asset writedowns.
Its shares have been in a trading halt for four months.
• See the flatline: Gunns Ltd Share Price here
• The finance expert view: John Lawrence here
First published: 2012-07-09 04:15 AM
• Hakan Ekstrom: Wood fiber costs for the European pulp industry have fallen from the record highs of 2011, reports the Wood Resource Quarterly
Wood costs for many European pulp mills have fallen the past six months as the pulp market has weakened. In the Nordic countries, pulplog and wood chip prices have fallen 11-15 percent from last spring, according to the Wood Resource Quarterly. Despite the price decline, Europe continues to have some of the highest wood fiber costs in the world.
The full article can be found in the downloadable PDF file:
GTWMU_Europe_pulpwood_markets_1Q_2012.pdf