Purchase of Noske-Kaeser Group by NZ interests
NZTE and FRST welcome purchase of Noske-Kaeser Group by New Zealand interests
July 4, 2006
New Zealand Trade and Enterprise and the Foundation for Research, Science and Technology today welcomed the purchase of global engineering group Noske-Kaeser by New Zealand investors as a big win for the country’s manufacturing sector.
Titan 1, owner of Palmerston North-based Conzept Engineering Solutions Limited, and Hunter Capital Group have bought Noske-Kaeser Group from German conglomerate ThyssenKrupp.
The purchase follows a strategic relationship that has developed in recent years between Conzept Engineering Solutions and Noske-Kaeser New Zealand.
Conzept Engineering Solutions and Noske-Kaeser New Zealand have both received assistance from New Zealand Trade and Enterprise to grow their business. The Foundation for Research, Science and Technology has also invested technical development funding to help the companies develop key technologies that have contributed to its international success.
New Zealand Trade and Enterprise specialised manufacturing sector director, David Penny, says the purchase of Noske-Kaeser by New Zealand interests means a global business will have a base in New Zealand, which in turn will help showcase the country's engineering talents to the world.
He praised the strategic relationship between Conzept and Noske-Kaeser New Zealand for the way it has helped them to share expertise in aspects such as optimal manufacturing, design, intellectual property and managing customer relationships.
“Now, the purchase of Noske-Kaeser will allow world-class intellectual property to be located in New Zealand, which is something to be celebrated.
“The new company will retain close links with German conglomerate ThyssenKrupp and benefit from its brand and design exposure,” Mr Penny says.
Noske-Kaeser and Conzept also have arrangements with other New Zealand suppliers and companies, and he says the purchase means those relationships are likely to grow in the future.
“This provides a great opportunity for New Zealand businesses offering internationally competitive pricing, service, and quality to become globally connected,” Mr Penny says.
Foundation for Research, Science and Technology business manager, Lins Kerr, says it is increasingly common for overseas enterprises to recognise the potential in New Zealand by investing in Kiwi companies.
He says it is both exciting and refreshing to see a New Zealand manufacturer achieving the scale needed to acquire an international business.
“This has the potential to deliver significant benefits to New Zealand through increased foreign exchange earnings, more jobs, work for other local businesses and potential opportunities for locally developed technologies to be used overseas.
“Conzept and Noske-Kaeser have got a real competitive advantage in the intellectual property and smart engineering expertise they have built up. This is a big win for New Zealand manufacturing,” says Mr Kerr.
Foundation investment has helped the Conzept and Noske-Kaeser with research and development initiatives on train air conditioners for extreme temperatures, improved shipping container refrigeration systems and, most recently, an energy efficient heat pump application.
About New Zealand Trade and Enterprise
New Zealand Trade and Enterprise (NZTE) is the Government’s economic development agency.
Through its network of offices worldwide, NZTE aims to grow New Zealand's economy by boosting the capability of businesses and regions and facilitating their sustained and profitable participation in overseas markets.
NZTE offers a wide range of services and programmes applicable throughout the lifecycle of firms from start-ups to established groups of exporters.
About the Foundation for Research, Science and Technology
The Foundation for Research, Science and Technology invests over $460 million a year on behalf of the New Zealand Government, in research, science and technology. These investments are made to enhance the wealth and well being of New Zealanders.
Through its Technology New Zealand suite of schemes, the Foundation assists companies to undertake research and development projects that result in new, export-focussed products, processes or services. Investment from the Foundation is directed at supporting technical risk and the building of technical skills and expertise in companies.