GUNNS PERMANENT TRADING HALT - COMPANY INSOLVENT

Gunns are trying to raise $400 million which is as much as they are losing EVERY YEAR. They are $800 million in debt and they want to make bleached Kraft pulp that is declining in demand by 8% a year. Workers in Brazil making pulp earn 25% of what Australian workers get. Gunns want to make electricity by burning trees although Tasmania now has an electricity glut.