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

 


Mercer Secures Canadian Order For Slicing Machinery

September 10, 2012

Immediate Release

Mercer Secures Canadian Order For Slicing Machinery

Mercer Group Limited, through its75% owned subsidiary Titan Slicers, has secured an order for more than $NZ 5m from Maple Leaf Foods in Canada.

Mercer CEO, Rodger Shepherd, said that on the back of this sale the company was looking to open a sales office in North America to capitalise on the opportunities that exist in this market.

Titan is a Nelson-based business that designs and manufactures world leading slicers, particularly for the bacon, ham, salmon and cheese sectors. It exports the majority of its products and has a strong forward order book.

“Because of this order and in anticipation of future growth, we are ramping up our production facilities at the Mercer manufacturing base in Christchurch,” he said.

The last six months has seen a sharp turnaround for the Mercer Group with the company recording its first six-month profit for many years, for the 6 months ending June 30, 2012.

“This deal supports the guidance provided to the market of EBITDA between $3m and $4m for the July 2012 to June 2013 financial year,” Rodger Shepherd said.


Background:Maple Leaf Foods is one of Canada’s largest firms and a leading consumer packaged food company, headquartered in Toronto with operations across Canada and in the United States, United Kingdom, Asia and Mexico. It employs approximately 24,000 staff.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news