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

 

Hope for going-concern Southern Cross Forest Products sale

Media release: FIRST Union

Tuesday March 4, 2014

Workers hopeful of sale of Southern Cross Forest Products as going concern

The wood sector union is hopeful that jobs may be retained at a Dunedin based wood processing company.

KordaMentha was yesterday appointed receiver of Southern Cross Forest Products.

It follows the receivership of Tachikawa Forest Products in Rotorua late last year, with the loss of 120 jobs, and difficult times for many other wood processers in New Zealand.

FIRST Union has members at the company’s operations in Balclutha and Milton and a small number in Thames.

FIRST Union General Secretary Robert Reid said that workers were encouraged to hear the receiver’s view that the business will be sold as a going concern.

“Southern Cross is a significant employer in South Otago and Thames, and the loss of jobs would be a massive blow to these regions,” Robert Reid said.

“This receivership comes on top of a prolonged period of difficult times for wood processing firms.”

“The high New Zealand dollar, the high price of logs and the inadequate government procurement strategy around both the Canterbury rebuild and government house building programmes see the continuation of raw logs being exported across our wharves while workers’ jobs are at risk in the sector,” he said.

Ends.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: