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

 


Agri-business sale completed

13 November 2012

Agri-business sale completed

Solid Energy has completed the sale of the agribusiness division of Biodiesel New Zealand Ltd. The purchaser, Pure Oil New Zealand Ltd, is owned by Southern Packers, Midlands Seed, and a manager and agronomist who previously worked for Biodiesel New Zealand.

Solid Energy said in August that as part of its response to the impact on its business of the extremely challenging global coal market, the company would sell its biodiesel business which operates in two parts – one manufacturing and marketing biofuel and the agri-business division which contracts with farmers to grow oilseed rape, processes the seed at an oil extraction plant at Rolleston and sells the oil into the food industry and meal as animal feed. In early October Solid Energy announced the consortium led by Southern Packers was the preferred bidder.

Solid Energy is pleased that Pure Oil New Zealand plans to develop the existing agri-business, including the amount of oilseed rape crop it contracts.

Solid Energy is now in negotiations with potential purchasers of the fuel division of Biodiesel New Zealand and expects to complete a sale by the end of the year.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news