Hyne Group Seeks New Owner for Australia and New Zealand XLAM CLT Business
XLAM Commences Process to Seek New Owner
On Wednesday, Hyne Group announced it has begun a strategic review of its XLAM CLT manufacturing business, with a preferred outcome of securing a new owner for the operation.
Hyne said XLAM’s specialist focus on the commercial construction sector has limited alignment with the group’s targeted expansion in Australia and New Zealand and does not fit the long-term strategy of parent company James Jones & Sons Ltd.
The group has begun a formal process seeking expressions of interest from qualified parties in Australia, New Zealand, North America, and Europe. Hyne said a new owner could build on XLAM’s existing manufacturing, design, and engineering capabilities serving Australia, New Zealand, and the broader Southern Hemisphere.
XLAM is positioned to benefit from growing adoption of modern methods of construction, including prefabricated and modular building systems, hybrid timber construction, and vertical building extensions, according to Hyne Group.
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