Business
18 April, 2026
Manufacturing and recycling billionaire brothers buy land in Berrima
Stonington has reportedly sold for $13.3 million by lenders who took possession of the property. The property has sold to billionaires Michael Borg and John Borg, founders of manufacturing and recycling company Borg Group.
Peter Crown’s final land holdings near Berrima have been sold. The land holdings were once mooted as part of a “Silicon Highlands” development in the Southern Highlands.
Stonington has reportedly sold for $13.3 million by lenders who took possession of the property. The property has sold to billionaires Michael Borg and John Borg, founders of manufacturing and recycling company Borg Group.
The Borg group of companies started as a small joinery firm run out of a garage by the two brothers in 1989 and has grown into one of Australia’s largest and most successful manufacturing and recycling businesses.
Borg is one of Oberon’s largest employers, employing hundreds in that town and the business employs more than 2500 people across its operations.
The group operates across a range of industries, including laminate panel production under the Polytec brand and the business reDirect Recycling.
The sale of Stonington comes as the Sydney Morning Herald reports the Medich family has paid about $40 million for ‘Evandale’. That purchase means the Medich family now controls more than 3000 acres along the Hume Highway corridor, much of which was part of the failed Hume Coal proposal. The Southern Wire will cover that land holding in a separate report.
It remains unclear what future use is planned for Stonington by the Borg brothers.
The Southern Wire has reached out to the Borg Group on their intentions for the land.
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