Fifty workers at Carter Holt Harvey-owned Rotorua Profiles are celebrating after being told they will no longer be made redundant, their union says.
The Engineering, Printing and Manufacturing Union's Ron Angel said Carter Holt Harvey has instead decide to sell the company to Profiles Woodproducts Limited.
This means all workers will now keep their jobs on full pay and conditions.
Angel congratulated Carter Holt Harvey for its efforts to keep people in jobs and for making such a smooth transition to the new employer.
"It's devastating to be told you'll lose your job at any time, particularly just before Christmas, so our members are just over the moon that their jobs have been saved.
"Carter Holt Harvey is to be congratulated for its efforts to keep people in employment and for making such a smooth transition to the new employer. This is great news for everyone," said Angel.
Meanwhile, he said the EPMU's continuing to consult with Carter Holt over 18 redundancies announced recently at its Tokoroa plywood plant.
So far six jobs have been saved and the union is hopeful the remaining twelve redundancies will be voluntary.