Waverley Sawmills has eased back from full production while news of a sale is awaited, managing director Peter Martin says.
The sale process has been going on for 18 months. It is at a sensitive stage and an announcement could be made in the next two weeks.
There is more than one possible buyer, with multinational, corporate, local and marketing interests all involved, Martin said.
The mill has 65 staff, who have all be told "as much as they can be told", he said. The future of their jobs depends on the sale.
Waverley Sawmills can cut 150 cubic metres of timber a day. Cutting resumed on January 14, only to stop on January 17. It can't carry on, Martin said, because the way the timber is usually marketed conflicts with the interests of a possible buyer.