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

 

Season Ends: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news