The part sale of the state's largest integrated pallet manufacturer Pinetec has offered some certainty to its employees, who have been offered casual employment during the 45-day settlement period.
PricewaterhouseCoopers partner Derrick Vicker today confirmed the sale of Pinetec's pallet manufacturing business to an unknown buyer, with the sale amount yet to be disclosed.
"We understand this has been a difficult and uncertain period for employees but with the sale it is business as usual for a 45 day settlement period with all staff offered casual employment during this time," Mr Vicker said
"During the settlement period we will continue to work hard to find a buyer for the sawmill component of the business," he says.
Pinetec's 110 employees were given the option of working casual hours, which start today.
Further comment was being sought from Pinetec at time of publishing.
Earlier last month, PwC said Pinetec risked closure in four weeks time if a buyer for the business was not found.
Pinetec's descent into receivership started in June 2008 following an explosion at Verve Energy's Muja power station in Collie that occurred in February.
Pinetec was supplying biomass material to the Muja power station, however the material is believed to have caused the February explosion, causing Verve to cease the use of the material.
An investigation to establish the source of the explosion is ongoing.
Pinetec's problems were also compounded by the Varanus Island gas explosion.
