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CeresNZ express interest in acquiring Mainzeal


MEDIA STATEMENT
FOR IMMEDIATE RELEASE
8 February 2013


CeresNZ express interest in acquiring Mainzeal

CeresNZ, a subsidiary of US based Ceres Environmental Services, a 35 year old international disaster recovery company, has announced today that it has a strong interest in acquiring Mainzeal Property and Construction.

CeresNZ was established in Christchurch, when David McIntyre Ceres Environmental Services owner came to New Zealand before the 2011 devastating earthquakes. Since the earthquakes, CeresNZ has deployed extensive resources and mobilised a team, to be a resource to the community specializing in the areas of:

1. Seismic strengthening and building construction;
2. Disaster recovery and remediation;
3. Property and land development;
4. Civil construction and engineering; and
5. Ancillary services.

Bernie de Vere of Ceres New Zealand says the company has indicated its interest in acquiring Mainzeal and the company will enter into preliminary discussions with the receivers. He says, “while there is a significant process to go through before a final decision is reached, strategically, CeresNZ see this as an extremely positive opportunity for growing its business.”

We believe that as the Christchurch rebuild picks up steam, it will be beneficial to the recovery that the successful team of highly skilled people within Mainzeal be retained as much as possible under a new ownership, so they may continue with their significant contribution to the rebuild.

With regards to other projects that Mainzeal are currently undertaking throughout the country. Mr de Vere says, “these unfortunate circumstances clearly have created a huge uncertainty as to how and when they would be completed. However, while this is very early days, CeresNZ believes that it would be in everyone’s best interest to get these projects back on track as soon as possible.”

As to the likely timing of when CeresNZ might be in a position to look at a formal offer, Mr de Vere says that is very much in the hands of the receivers and their ability to provide us with the necessary information for undertaking the required due diligence.

Ends.

www.ceresnz.co.nz
www.ceresenvironmental.com


About CeresNZ and Ceres Environmental Services US

CeresNZ is a demolition, recycling and Construction Company located in Christchurch and is a subsidiary of Ceres Environmental Services of the US. Ceres was one of only four firms contracted by the US Government for clean-up after Hurricane Katrina disposing of some 10.2 million cubic meters of debris and coordinating more than 1,100 subcontractors in that effort. The contract over three years to clean up damage to homes and debris around New Orleans was worth US$1 billion.

Ceres Environmental Services of the US has been responding to the earthquake in Haiti and was awarded a contract with the Government of Haiti on a World Bank funded project to recycle earthquake debris and manage the only sanctioned landfill in Port-au-Prince.

CeresNZ was established in Christchurch when the active owner David McIntyre came to New Zealand before the 2011 devastating earthquakes. Since the earthquakes, CeresNZ has deployed extensive resources and mobilized a team that specializes in these types of natural disasters.

Ceres Environmental has successfully managed more than US$1.7 billion of emergency contracts, including projects with FEMA after Hurricane Katrina through to supervising multiple debris recycling operations for the Government of Haiti after the 2010 7.0 earthquake.

After Hurricane Katrina operations stretched across several affected states managing over 50 reduction sites processing 10.2 million cubic meters of debris and coordinating more than 1,100 subcontractors. As a result of the successful management, Ceres Environmental received the "National Safety Council's: 1,000,000 Man Hours Award." Additionally, Ceres also received the very rare "Outstanding Evaluation" rating from the USACE (United States Army Corp of Engineers).

Following the devastating 7.0 earthquake which struck Haiti, Ceres Environmental was contracted by the World Bank and now employees over 150 Haitian locals. Ceres Environmental is currently operating one of the most complicated high risk recovery sites in the Western Hemisphere which receives more than 200 truckloads of rubble and recyclables a day. The recyclables get certified and reintegrated into rebuilding their road system.

Ceres Environmental has been advising and contracting with global agencies such as USAID, United Nations, World Vision, World Bank, FEMA and CERA, responding to the disasters through strategic recycling and reduction operations, demolition and reconstruction of cities and towns around the world.

Ceres Environmental provides design-build solutions for infrastructure, civil and environmental works. Ceres self performs piling, levee and water control systems. Further to the underground construction projects, Ceres specializes in the stabilization and historic preservation elements, demolition and rebuild of structurally compromised buildings following natural disasters.

Ceres Environmental has developed their trademarked innovative approach called the "Ceres Circle TM", it is the first systematic approach to address and mitigate the impacts of a natural catastrophe. It addresses the causal links that may be found to exist between emissions, weather conditions, run offs and recycling methods. The Ceres Environmental system of reduction, reuse, recycling and recovery is the founding principle in our practices.

As a company dedicated to a sustainable environment and well managed practices, Ceres Environmental is an industry leader with an internationally proven track record.

David McIntyre has significant property and commercial asset investments in the US.

In Christchurch CeresNZ had been involved in trying to save the historic Billens Building, recently hit by fire, and other heritage projects. It had also set up an office in Wellington for potential seismic- strengthening work.

CeresNZ is currently finalizing a number of other exciting projects as part of the Christchurch rebuild; the details of which will be released in due course.

The company is moving into other property-based projects including the moving of non-damaged houses off damaged land onto new residential lots.

CeresNZ has also been very active with significant building deconstruction in Christchurch, the most visible being the "implosion" on the 14-storey Radio Network House in central Christchurch in August 2012.

In December 2012, CeresNZ announced it had purchased Christchurch’s historic Peterborough Centre and would invest in excess of $25 million to earthquake strengthen and restore the building.

Some of the financing of CeresNZ projects is through David McIntyre’s private equity firm Vesta Equity http://www.vestaequity.com/ .

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