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

 


Ericsson to Provide a Welcome Boost to Economy

21 February 2013

Ericsson to Provide a Welcome Boost to Economy

The announcement that Swedish telecommunications equipment and services company Ericsson is to open a cable ducting factory in Porirua is tremendous news for the Wellington region, says Business Central Chief Executive Raewyn Bleakley.

“The $15 million investment in the manufacturing plant at Todd Park and the 30 local jobs that will bring will be a big boost to the local economy and is a reflection of the region’s ability to attract new and exciting businesses.

“New Zealand, and Wellington in particular, has a first-class reputation for being business friendly, and this is further proof of that.

“Companies such as Ericsson don’t put factories just anywhere.

“And even though this factory will produce ducting for the rollout of the ultrafast broadband and rural broadband networks up till 2019, Ericsson says that once that is completed it could be used to export ducting to Australia and Asia-Pacific. So they look like being a long-term fixture on the business scene.

“This is a big-time player. More than 1,000 telephone networks in more than 180 countries use their network equipment, and more than 40 per cent of the world's mobile traffic passes through their networks.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news