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

 

Evergreen Forests Restructure

As outlined in its interim report (available at Evergreen Forests Limited is to focus on management of its existing forests rather than following a strategy of growth. This will result in a reduction in administrative and operational costs. Consideration will also be given to sale of non-core forests.

Chairman, Peter Wilson stated today that pursuant to the announced strategy, three senior management positions would be reviewed with a new General Manager position created to undertake a revised role. It was expected this process would be concluded by June 30th. Mr Wilson said that Mr Mark Bogle, CEO since 1995 had elected to leave the Company at the conclusion of the transition.

Mr Wilson also announced that the Board would be reduced to four members with the retirement of Bill Falconer and Jim McLay effective 16th April. Mr Wilson said that while the considerable skills provided by both members would be missed, a smaller Board would meet the needs of the Company.

Evergreen Forests Limited has moved from its Auckland business district offices to premises at Mt Wellington with associated costs savings.

These and other measures addressing the outcomes of the review process were referred to in the interim report to shareholders. Mr Wilson said that the Board believed the steps taken would reposition the company to be able to deliver maximum value to shareholders.

*********

Evergreen is a public company listed on the NZSX Market. The company owns or has cutting rights over 20,671 stocked hectares (51,057 acres) planted in fast-growing radiata pine. Its forest properties are principally located in Northland, South Auckland, the East Coast and the West Coast of the South Island

For further information, contact Peter Wilson on +64 0274 440 418

Our website is: http://s0.tx.co.nz/at/tep83i45800a4j21837s4c1946319t9f2n787646z

For information on the New Zealand stock market and the company's share price on the NZX, visit: http://s0.tx.co.nz/at/tep83i45799a4j21837s4c1946319t9f2n787646z

We've sent you this communication by email because you have given us permission to do so. If you want to modify your contact details or unsubscribe from receiving emails from Evergreen Forests Limited please click the link below: http://www.evergreen.tx.co.nz/go/to/profile/tep83j21837s4c1946319f2n787646z

See our Privacy Policy: http://s0.tx.co.nz/at/tep83i45801a4j21837s4c1946319t9f2n787646z

Copyright (C) 2003 Evergreen Forests Limited

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra (And Dairy NZ)'s Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO: