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

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news