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

 


Ceres’s local unit interested in buying Mainzeal

Ceres Environmental’s local unit interested in buying Mainzeal from receivers

Feb. 8 (BusinessDesk) – CeresNZ, the Christchurch-based unit of American firm Ceres Environmental Services, says it has a “strong interest” in buying Mainzeal Property and Construction from the receivers.

CeresNZ plans to have preliminary talks with the receivers, betting that the rebuild of Christchurch provides a role for the “highly skilled people within Mainzeal,” according to a statement posted on the Scoop website.

Mainzeal, part of Richard Yan’s Richina group, was placed in receivership this week after failing to make payments on its credit facilities, having become embroiled in lawsuits related to the leaky buildings saga.

“Strategically, CeresNZ sees this as an extremely positive opportunity for growing the business,” said company spokesman Bernie de Vere. Financing for its local projects has been provided by US private equity firm Vesta Equity, owned by David McIntyre.

CeresNZ has been involved in demolition and rebuilding in Christchurch. The parent company was involved in the clean-up after Hurricane Katrina and the earthquake in Haiti, according to its website.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Interest Rates: NZ Dollar Jumps After RBNZ Trims OCR

The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. More>>

ALSO:

Drones: New 'World-Class' Framework For UAVs

The rules, which come into effect on 1 August, recognise the changing environment and create a world-class framework that accommodates ongoing development while still ensuring the safety of the public, property and other airspace users. More>>

ALSO:

Scoop Business: NZ Net Migration Reaches New Annual Record In June

New Zealand annual net migration rose to a new record in June as arrivals continued to be bolstered by Chinese and Indian students, while fewer locals departed for Australia. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news