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


Richina Would Consider Colyer Mair Sale

Statement made by Alastair MacCormick, Chairman, Richina Pacific Limited
Richina Pacific is prepared to consider the sale of its 100% owned subsidiary, Colyer Mair Limited, to Lowe Corporation Limited.

The ruling today by the Commerce Commission that it has granted unconditional agreement to Lowe Corporation to proceed with the acquisition opens up the possibility of a sale.

However, Richina Pacific wishes to make it clear to shareholders and the market that while Lowe Corporation has indicated it is willing to make an offer there is no agreement in place between it and Lowe Corporation. Until an offer has been made and accepted, there is no sale in the offing.

Following Lowe Corporation’s expression of interest, Richina Pacific entered into a confidentiality agreement with them. Some limited information has been exchanged, but due diligence has not been undertaken.

If this develops into an offer which the directors of Richina Pacific believe is advantageous to all shareholders, shareholders and the market will be informed .Any conditions that may attach to the agreement will also be advised at that time.

Colyer Mair is our New Zealand based semi processor of leather. It is headquartered in Auckland and has processing facilities in Auckland, Napier, Wanganui, New Plymouth, Levin, Christchurch and Dunedin.

It processes some 20% of the skins and hides from the nation’s sheep and cattle kill, and exports semi processed leather throughout the world.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Game Developers Association: Existing Government Measures Won’t Stop One Of Our Fastest-growing Sectors Moving To Australia

“Existing government policies won’t stop New Zealand gaming and interactive media companies from choosing to expand in Australia instead of New Zealand,” NZGDA Chairman Chelsea Rapp... More>>

DoC: A Tale Of Two Halves For Rock Wren/Tuke
It’s a tale of two halves for rock wren/tuke with their fortunes hanging on effective predator control, the latest South Island-wide survey shows. The Department of Conservation monitoring programme, now in its third year, tracks populations of this small alpine bird... More>>

TradeMe: Wages Remain Hot While Job Listings Cool Off
Salaries are skyrocketing in the regions as Kiwi employers battle to attract staff and combat the rising cost of living, according to the analysis of over 77,000 vacancies listed on Trade Me Jobs for the quarter ending 30 June (Q2)... More>>

Spark: Launch Of New Submarine Cable Expands New Zealand’s International Connectivity By Nearly 100%

Southern Cross Cables Limited (“SX”) today announced the launch of its Southern Cross NEXT fibre cable (SX NEXT), creating the largest submarine network connecting Australasia... More>>

Motor Industry Association: New Vehicle Registrations Soften

The Motor Industry Association’s Mark Stockdale says that 12,049 registrations of new vehicles for the month of June shows the market is weakening in the face of raising costs of living... More>>

MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>