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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news