North Limited

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North Limited was acquired by Rio Tinto.

Notes

In 2001: "Rio Tinto has sold North Forest Products to Tasmanian-based Gunns Limited. Under the sale agreement, which is expected to be completed by 28 May 2001, Rio Tinto will receive A$335 million cash. Gunns has also granted an option to Rio Tinto to acquire transferable carbon credits arising from land acquired with North Forest Products.

"Commenting on the sale, Mr Leigh Clifford, Rio Tinto's chief executive, said, “We are pleased that North Forest Products has been bought by a Tasmanian company and one that well understands the Australian forest industry and its employees and customers. As part of the Foreign Investment Review Board's requirements, we have kept the Tasmanian Government fully informed throughout the sale process.”

"Rio Tinto acquired North Forest Products through its acquisition of North Limited. At the time of the acquisition, Rio Tinto indicated that forestry was not an activity conducted by the Group and that North Forest Products was likely to be sold." [1]

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References

  1. Rio Tinto sells North Forest Products to Gunns Limited, Rio Tinto, accessed February 7, 2009.