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

 


Port of Tauranga Acquires Quality Marshalling

12 December 2012

Port of Tauranga Acquires Quality Marshalling


Port of Tauranga Acquires Quality Marshalling Port of Tauranga today announced that it has acquired Quality Marshalling Limited effective from 1 February 2013.

Port of Tauranga Chief Executive, Mark Cairns, says the primary objective of the acquisition is to maintain the Port's presence in the forest industry supply chain as a core and strategic component of our business.

Port of Tauranga will purchase 100% of the shares in Quality Marshalling for $34 million. The revenue for the 2012 year was $18.0 million. The acquisition is expected to be immediately earnings per share accretive.

Our purchase of Quality Marshalling will enable us to further develop our customer supply chain relationships , says Mr Cairns.

Mr Cairns says Quality Marshalling is a logical choice as a business partner because of the compatibility with Port of Tauranga. The Company is privately owned by Ken Holmes and has longserving staff with a can do approach to customers and a strong focus on innovation. We look forward to working together to grow the company for the benefit of our customers. Quality Marshalling is a very well run company with excellent growth prospects.


Ken recognised the close alignment between the Port of Tauranga and Quality Marshalling and made the choice to sell Quality Marshalling to Port of Tauranga.

Following settlement, Shayne Jenkins, who has more than 20 years experience in the forestry export sector, will become General Manager of Quality Marshalling and take over the leadership of the business from Ken Holmes, who will stay associated with the Company in an advisory capacity. For further details, contact: Mark Cairns Chief Executive Port of Tauranga Limited Ph: 07 572 8829 http://www.port-tauranga.co.nz/Media-Room About Quality Marshalling: Quality Marshalling is the second largest log marshalling and scaling company in New Zealand, handling approximately 2.5 million cubic metres of logs at Mount Maunganui and Northport.

Quality Marshalling also has operations at:

Kopuriki Log Yard, Murupara
Waipa Sawmill, Rotorua
Kaingaroa
Napier
Auckland
Quality Marshalling has been operating since 1991 and currently has 133 employees.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news