Gunns (GNS)

Shares / Stock Code

GNS

Stock Exchange / Sharemarket

ax

Gunns Limited (GNS) is a fully integrated hardwood forest products company engaged in milling, timber processing and merchandising, building and hardware supplies merchandising and building contractors. GNS was listed on the Australian Stock Exchange (ASX) on the 10th of February 1983. Its average annual revenue reaches approximately $689 million out of its issued capital of $212 million. Its headquarters is located in Launceston, Australia and to date; around 1700 people are employed in the company. Gunns Limited operates mainly in three business segments: managed investment schemes, forest products and others.

The managed investment scheme segment of Gunns Limited focuses on establishing and financing of vinelots, managed woodlots, and orchards. It is also engaged in providing horticultural and related forestry services.

GNS' forest products segment is focused on forestry management as well as on the processing, manufacturing and selling of forest products such as veneers, wood fibre, timber and other manufactured products. Five sawmills located throughout Tasmania are being operated by Gunns Limited. It is in these five sawmills were rough sawn kiln dried hardwood, seasoned framing timbers as well as value-added hardwood products including tongue and groove flooring, laminated beams, block and mosaic parquetry, and furniture and moulding components are produced.

The other services segment of Gunns Limited is engaged in construction services, merchandising, vineyard management, and production and sale of wine. The construction services and wine production and exports services are offered through the company's subsidiary Hinman Wright and Manser and Tamar Ridge Wines respectively.

Gunns Company History

John and Thomas Gunn established Gunns Limited in 1875. John Gay, the company's Executive Chairman was promoted as the General Manager in 1977. After a million dollar share float in 1986, John Gay became the company’s Managing Director.

Boral’s timber assets cost AUD$72 million when the company bought it in 2000. North Forest Products was bought by the company for AUD$351 million in 2001.Tasmanian exporters and maker of wines Tamar Ridge Wines were bought by Gunns in 2003.

The first Gunns operation for saw-milling industry began in Western Australia when Sotico's Jarrah business assets were obtained for AUD$29million. Their deal was finally completed in 2004 with many Jarrah sawmills.

Gunns was the first company in Australia to acquire four levels accreditation for its environmental management in 2005. Chain of Custody Standard was awarded to the company. The chain is a national benchmark permitting forest products to track down to their exact harvest location. 60% share of Auspine Limited was obtained by the company in September 2007. Auspine Limited is a company associated to planting and gathering, processing and sale of timber products.