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

 


Moa signs long-term brewing deal with McCashin's

Moa signs long-term brewing deal with McCashin's as expansion talks continue

By Paul McBeth

May. 26 (BusinessDesk) - Moa Group, the boutique beer maker scheduled to report annual earnings tomorrow, has signed a long-term brewing contract with McCashin's Brewery in Nelson amid protracted negotiations to expand capacity at its own facility in Blenheim.


The Auckland-based company has extended its contract brewing arrangement with McCashin's for an unspecified time, and will use some of Moa's own equipment, it said in a statement. High-end specialty brews will continue to be produced at Moa's Blenheim site, and volume brews at the McCashin's brewery. The deal fills the gap left by Moa's protracted resource consent application to expand the Blenheim brewery, and the company said it is in .private mediation talks for a modest increase in capacity at the site.


"We get the brewing scale we require, in a timely fashion and without significant demands on capital expenditure," chief executive Geoff Ross said. "I am confident that we will achieve a satisfactory resolution to the mediation this year."


Moa raised $16 million in a 2012 initial public offer, of which it expected $6.1 million would be spent on expanding the brewery.


The shares fell 1.6 percent to 61 cents, and have shed 3.1 percent this year. The stock slumped last year when sales volumes missed forecast, something Moa blamed on its now-dumped distributor, Treasury Wine Estates, for failing to deliver on the agreed targets.


Last year the company’s board said it will embark on a strategic review to “improve the overall profitability and viability of the business model in each of its markets and in terms of its manufacturing capability, both for the immediate and medium terms.” It expects to complete the review once the decision on the new brewery is finalised.


(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news