Sumitomo Forestry Co., Ltd. (“SFC”) announced that its Board of Directors decided to sell all of its shares in Alpine MDF Industries Pty Ltd., headquarters located in Victoria, Australia, a wholly-owned subsidiary of Sumitomo Forestry Australia Pty Ltd. (“SFAU”), SFC’s wholly-owned subsidiary, to Metro Particle Co., Ltd. of the Metro-Ply Group, which manufactures wooden panels in Thailand.

SFC acquired Alpine in 2002 and during the past few years has been manufacturing and distributing MDF in Australia. However, SFC has decided to sell the shares of Alpine after considering the optimization of management resources in Australia, business efficiency and the terms and conditions of this transaction with the purchasers.

Source: lesprom.com