KEY POINTS:
Australian timber giant, Gunns has received approval to go ahead with a proposed pulp mill in northern Tasmania.
The move was strongly opposed by environmental types. The sharemarket, however, gave the mill a big thumbs up and the share has spiked upwards on perception of what it could mean for Gunns earnings.
Gunns is a Tasmania-based, fully integrated hardwood forest products company and is Australia's largest forestry company. Operations are based on state government-owned hardwood forests and company and third party-owned plantations.
Gunns has made a strategic move with the acquisition of 60 per cent of the South Australian soft wood plantation and forestry company Auspine.
For a long time Gunns has been unloved on the sharemarket, the main reason being its disastrous image as a destroyer of native forest and its repeated run-ins with greenies.
Fisher & Paykel Appliances has signed up another alliance partner, following its massive deal with Whirlpool.
It has entered into a partnership with European appliance manufacturer Arcelik to share distribution of each other's products. Arcelik is the third largest home appliance manufacturer in Europe.
It produces more than 14 million home appliance products a year and has manufacturing facilities in Turkey, Russia, Romania and China. FPA's new product designs are being well received in Australia and the US.
Aqua Smart washing machines are catching on in the US because local authorities have agreed to offer consumers water rebates.
FPA is also likely to benefit from tax credits to the tune of US$7.5 million ($9.7 million) for 2006 and 2007.
