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

 


Southern Cross Forest Products

21 July 2014

MEDIA RELEASE

Southern Cross Forest Products

The receivers of Southern Cross Forest Products Ltd (in receivership) (SCFP) have confirmed the sale of the company’s Milburn sawmill and Millstream drymill assets in Otago to Pan Pac Forest Products Ltd (Pan Pac).

Receiver, Brendon Gibson from KordaMentha, said the sale – which is subject to approval from the Overseas Investment Office – was good news for the local forestry industry.

“We are pleased to have negotiated a sale to an experienced wood processor that is going to reinstate production.

“When production recommences, Pan Pac has advised it expects to employ up to 30 people. This will provide an opportunity for SCFP’s former employees to re-enter the industry,” Mr Gibson said.

Pan Pac Managing Director, Doug Ducker said the company planned to make a significant investment to increase the mills’ production capacity prior to recommencing production in early 2015.

“This is a strategic move to enhance Pan Pac Lumber’s position as New Zealand’s leading supplier of appearance grade radiata lumber to global markets.

“These mills will complement and supplement our current output from our sawmill at Whirinaki, Napier. The additional product will be sold into our existing customer base to meet increasing demand and to further enhance sales into Asia.

“Oji Holdings Corporation – Pan Pac’s Japanese owner – has shown strong support for this opportunity and in doing so, support employment and regional development in the Otago area,” Mr Ducker said.

The Receivers are now starting sale processes for other SCFP assets in the Otago region.

[ends]


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bad Day For Rope: Donaghys Job Losses Another Blow To Dunedin

The loss of 30 jobs from Donaghys rope and twine factory is yet another blow to the people and economy of Dunedin, says Dunedin South Labour MP Clare Curran. More>>

ALSO:

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

WWF Report: Solutions In Reach; World Biodiversity Suffers Major Decline

Global wildlife populations have declined by more than half in just 40 years as measured in WWF's Living Planet Report 2014. Wildlife's continued decline highlights the need for sustainable solutions to heal the planet... More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. 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