VINZ Board Welcomes JEVIC NZ - Secures Majority Ownership
FOR IMMEDIATE RELEASE
VINZ Board Welcomes JEVIC NZ as It Secures Majority Ownership
AUCKLAND, 12 February 2013 – The Board of Vehicle Inspection New Zealand Ltd (VINZ) today congratulated JEVIC NZ Ltd and JEVIC Chief Executive Euan Philpot on that company obtaining over 95% shareholder acceptance of its takeover offer of VINZ, with the expectation that 100% will be obtained in due course.
Ken Worsley, Chairman of the VINZ Board, said, “Full ownership will avoid the uncertainty for minority shareholders, which would have existed had the takeover been only partially successful.
“A sole shareholder with strong industry background will also provide improved security and control for VINZ in these uncertain times.
“VINZ is an established going concern with skilled and committed staff and, under JEVIC ownership, it will no doubt continue to prosper,” said Mr Worsley.
As part of a long term partnership with Government via the New Zealand Transport Agency (NZTA), VINZ inspects, tests, and certifies new and used vehicles to ensure they comply with safety and environmental protection regulations. The company’s services meet the needs of an essential and permanent part of road transport legislation, including Warrant of Fitness (WOF) and Certificate of Fitness testing (COF for commercial vehicles), vehicle appraisals and inspections, exhaust emission testing, driver and vehicle licensing, and road user charge collection.