Australia timber firm Hyne mulls float, sale-paper

SYDNEY, May 5 (Reuters) - Family-owned timber group Hyne, one of Australia's largest softwood exporters, has appointed Goldman Sachs JBWere to broker a possible trade sale or share float worth up to A$750 million ($701 million), the Australian Financial Review said on Monday.

Potential buyers include New Zealand building products firm Fletcher Building (FBU.NZ: Quote, Profile, Research) and Australia's Boral Ltd (BLD.AX: Quote, Profile, Research), the newspaper said, saying Hyne had received a number of approaches in recent years.

A decision was likely closer to the end of 2008, the newspaper said, citing sources close to the company.

Hyne's sales exceed A$150 million a year, the article said. It employs more than 800 and has 12 wholesale outlets and timber plants in Victoria and Queensland states. Warren Hyne, who was managing director for 15 years, died last year after 30 years with the company. (Reporting by Miranda Maxwell)