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


Asia Pacific Speciality Chemicals Acquisition

15 August 2002

Update On Asia Pacific Speciality Chemicals Acquisition

The Directors of Nuplex Industries Limited advise that the integration of Asia Pacific Specialty Chemicals (APS) is proceeding well and early indications are that APS is performing to initial expectations.

Nuplex management is moving rapidly to achieve the benefits from the synergies available through merging the businesses.

Nuplex’s APS offer closed on July 26 with Nuplex achieving a relevant interest in 95.1% of APS shares. Nuplex is currently proceeding to compulsory acquisition of the outstanding shares and executive share options.

Nuplex believes APS will add considerable strategic value to the Nuplex group and the targeted $210 million addition to Nuplex group sales appears achievable.

The acquisition price of A$0.74 per share was also comfortably below the net tangible asset backing of A$0.82 per share as reported by APS. Nuplex is conducting its own fair value assessment to determine the carrying value of the business.

The acquisition is projected to increase Nuplex’s earnings per share as well as broadening the business base for future growth. Of particular interest is the increased involvement in the supply of ingredients to the Australian and New Zealand food processing industry and the additional polymer production capacity now available to the Australian operation.

Nuplex will be able to provide a more detailed view of expected performance by the end of August.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news