FIJI Forest Industries Limited (FFI) will close its operations in Malau next month.
A statement from the company said FFI had been in an insolvent state over the last decade.
The statement said FFI was a native species plywood and veneer mill and the main reason for its insolvency status was the non-availability of native species logs.
“FFI was never established as part of the pine industry,” the company stated.
“It was a company purchased in 2002 and has turned out to be a bad investment.”
Operations will close on May 22, 2019.
