Earlier this year, the Hyne Group announced its expansion into pallet manufacturing following the acquisition of Rodpak Pallets & Packaging in Melbourne and Express Pallets & Crates in Brisbane.
The Pinetec business has operated for over 30 years (15 years with the current owners) with an excellent customer base across a range of essential sectors such as mining, industrial chemicals, engineering, building products and the transport industry. The business model is very compatible with the long-term partnership approach that Hyne Group operates under.
Hyne Group CEO, Jim Bindon said Pinetec will continue to operate as usual but with the benefit of being part of a global network,
“This expansion of our pallet division into the West is exciting times for both the Hyne Group and Pinetec.
“I am also really pleased to advise that the two previous shareholders of the Pinetec business will remain involved in the Hyne Pallets division, as will all the existing staff.
“One of those shareholders, Ian Smith, is the Pinetec General Manager, and I welcome his continued expertise and support in this role.
“With the broader support of the Hyne and James Jones Groups, Pinetec’s capability and credentials as a business partner to their many customers, will only be enhanced.” Mr Bindon said.
Pinetec’s other shareholder, Dean Roderick, is the General Manager of Rodpak which has been part of the Hyne Group since May 2024, and Dean remains an integral part of the Hyne Pallets management team.
Mr Roderick said the sale of his and Ian’s Pinetec business to the Hyne Group is exciting, as is already being experienced by the Rodpak business.
“With Pinetec coming into the Hyne Group fold, it is no longer a stand-alone business in the West, but immediately part of a global family with the ability to leverage from that, as we have been able to do at Rodpak.
“Not only does this present really good opportunities for our team members, customers and suppliers, but it further diversifies the Hyne Group geographic footprint to ensure efficiency and growth into the future.”
The acquisition of Pinetec will finalise on 1 November 2024, subject to all Completion Precedents being met.
Background
Hyne Timber was established in 1882 and today operates a range of large-scale softwood sawmills and engineered wood products manufacturing assets, including Australia’s first Cross Laminated Timber (CLT) processing facility.
In 2022, a partnership with UK based timber company James Jones and Sons Ltd (JJSL) was announced, with JJSL becoming the majority owner of the Hyne Group.
In 2023, the Hyne Group announced a partnership with the Rocky Point landscaping products business in Yatala, Queensland, in which the Hyne Group is now the majority owner. In 2024, Rocky Point acquired Bassett Barks landscaping company based on the Sunshine Coast, Qld.
In 2024, the newly established ‘Hyne Pallets’ acquired Rodpak Pallets & Packaging in Melbourne and Express Pallets& Crates in Brisbane.
As of 1November 2024, Pinetec will be the third pallet company to join Hyne Pallets.
