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


Fourth Acquisition In A Year For Donaghys

27 October 2006

Fourth Acquisition In A Year For Donaghys

One of New Zealand’s largest rural manufacturers, Donaghys Industries, has made its fourth acquisition in a year

Donaghys announced today it had bought Christchurch-based Polynet Products bailnet business. New Zealand’s rural industry is a hungry consumer of bailnet with annual usage of over 77 million metres a year for hay and silage.

Managing director Jeremy Silva says the acquisition nicely rounds out the range of bailnet products Donaghys offers the rural sector and connects them to additional customers.

“The acquisition provides Donaghys with exclusive distribution rights to Novatex bailnet in New Zealand. Novatex bailnet is recognised as the global leader in premium round bale netting. The Novatex range have been specially developed for the New Zealand environment with extra UV stabilization for the harsh local conditions,” said Mr Silva.

“Increasing numbers of farmers are moving away from traditional twine to bailnet because it increases balers’ operating speed. This means less time and less fuel consumption.”

Over the last year Donaghys has been aggressively buying Australasian applied technology firms including Southern Ocean Ropes, Jenkins Biolabs and National Ropes.

The Novatex bailnet will be supplied exclusively through rural merchants with technical support provided by Donaghys 15 Territory Managers. Polynet will continue to trade its specialist horticultural products.

“We’re currently eyeing a number of other acquisitions and hope to make an announcement early in 2007,” Mr Silva said.

Started in Dunedin in 1876, Donaghys Industries is New Zealand’s oldest rural manufacturer. It has representation in Australia, Europe and North America as well as Auckland, Christchurch, Dunedin and Invercargill.


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news