ENZA Agreement Welcomed, With Caution

Wednesday, August 15 2001
Owen Jennings
Press Releases -- Rural

ACT Rural Affairs Spokesman MP Owen Jennings is pleased an agreement has been reached over the repayment of ENZA's $54 million foreign exchange debt.

"This will be a great relief to the many growers who are under severe financial stress.

"However, I am concerned by the caveats on the agreement - especially regarding what the Apple and Pear board's determination will ultimately be, and ENZA's requirement for the agreement to be contingent on them putting funding arrangements in place.

"It is evident that ENZA is leaving a door open, which ought to be of concern to the industry at this late stage. It is unthinkable that they haven't put together a financial package before now," Owen Jennings said.

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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