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

 

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news