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

 


Cadmus Looks To Grow Finance Company

Cadmus Looks To Grow Finance Company

Auckland, 24 November 2005 - Cadmus Technology, New Zealand's leading exporter of payment solutions announced today that it was looking to create a new key managerial appointment to grow its recent Product Rentals Limited acquisition.

Within the Cadmus Group, Product Rentals Limited (PRL) is a separate finance company specialising in the provision of rental services to merchants, banks and resellers. Having its own operational staff, working environment and systems, PRL also has a need for an experienced financial executive to manage its books.

Ian Bailey, Managing Director for Cadmus Technology says that as part of the PRL purchase Cadmus invested in the Finpower finance software package and is undertaking modifications to allow new services to be offered to its resellers.

"The plan is to offer finance services, in both the New Zealand and International markets, to other non-Cadmus parties and dealers. This also requires us to operate clear and concise 'Chinese walls' and therefore PRL will need its own manager and operations group," says Bailey.

Bailey also says that while all PRL's operations will be housed in the new premises, the company has separated PRL's offices into its own separate and secure environment that cannot be accessed or made available to third parties.

"We've been very careful to ensure that there are distinct lines separating PRL from all third parties including the Cadmus Group. This is in line with the recent
restructuring of the Group whereby all operational level services have been allocated specifically to each operating division."

As part of the restructuring process, Kevin Joyce, the Chief Operating Officer and Company Secretary has resigned from Cadmus to pursue an interest as an independent consultant.

Bailey says that while Kevin's resignation was unfortunate it was nonetheless a natural outcome of the restructuring of the company to drive performance responsibility to the individual operating divisions as opposed to holding it as a head office function.

"We thank Kevin for his contribution to the company. From today the role of Company Secretary will be temporarily amalgamated into John Nimmo's role as Commercial Director," says Bailey.

"This appointment will play a key role in the development of PRL and will be another key appointment as we continue to implement Cadmus' business growth strategy."

ENDS


© 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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

Earlier:

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>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news