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

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news