James Jones & Sons Ltd has acquired just under 60% of the shares in Mayflower Enterprises Pty Ltd in Australia, the holding company of Hyne Timber and XLam. The transaction was approved by the Mayflower Enterprises shareholders and by the Australian Treasury’s Foreign Investment Review Board. Mayflower Enterprises Pty Ltd is a sixth generation, family owned company with an annual turnover of AUD$380 million in the year ending 30th June 2021.
Hyne Timber, dating back to 1882, operates two modern sawmills (Tuan, Queensland and Tumbarumba, NSW) producing circa 800,000 m3 of sawn timber, employing 750 staff and enjoying a 21% market share in Australia. The mills source approximately 1.6 million tonnes of pine logs from plantations strategically located in Queensland, NSW and Victoria. Hyne Timber also operates a brand new glulam factory in Queensland, commissioned in 2020.
XLam (New Zealand) was the only CLT manufacturer in the Southern Hemisphere and was acquired in 2015. The company has since relocated to Wodonga, Victoria where Australia’s first ever CLT manufacturing plant was commissioned in 2018.
James Jones & Sons Ltd is a family owned and managed forest products company.
