Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Interest In Richina Pacific Subsidiary

Interest In Richina Pacific Subsidiary, Colyer Mair

Statement made by Alastair MacCormick, Chairman, Richina Pacific Limited

We have been advised today that Lowe Corporation has filed an application with the Commerce Commission seeking approval to acquire our fully owned subsidiary, Colyer Mair Limited.

A number of parties, including Lowe Corporation Limited, have on occasions indicated an interest in purchasing Colyer Mair, and discussions have been held with these parties.

Colyer Mair is a well-managed and profitable semi processor and marketer of leather, and is New Zealand’s leading independent operator handling up to 20% of the country’s output.

For an international investment company such as Richina Pacific, such approaches are not out of the ordinary, and discussions with Lowe Corporation are continuing.

It is inappropriate for Richina Pacific to comment further at this stage. Shareholders will be advised when there is anything material to report.

end

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: