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

 


Sale of SCFP Thames operation confirmed

25 June 2014

MEDIA RELEASE

Sale of SCFP Thames operation confirmed

The receivers of Southern Cross Forest Products Thames Timber Ltd (in receivership) (Thames Timber) have confirmed the sale of the entire Thames operation to Profiles Woodproducts Limited, with settlement to occur on 18 July 2014.

Receiver, Brendon Gibson from KordaMentha said that upon settlement, Profiles Woodproducts Limited planned to integrate the Thames Timber greenmill and drymill operations into their existing business.

“We understand as part of its integration process that Profiles Woodproducts Limited will restructure the Thames business and reduce operations from two shifts to one. Unfortunately, any restructuring will result in redundancies for some of the workforce.

“While no staff are being given notice at this time, we wanted to ensure they were advised as early as possible. We have undertaken to support community initiatives designed to get workers made redundant back into employment.

“We wish to thank the staff for the professionalism they have shown in working through this difficult time,” Mr Gibson said.

Mr Gibson noted that that the new owners have said they intend to maintain customer relationships.

Further announcements regarding the sale of the remaining SCFP South Island assets will be made in due course.

[Ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news