Nutritek acquires 100% stake in New Zealand Dairies
Submitted by Tangaroa Snell on Wed, 07/08/2009 - 05:28
Russian food company Nutritek Group has finally bought 100% stake in New Zealand Dairies Ltd to control its South Canterbury milk powder factory.
It should be noted that New Zealand Dairies Ltd opened the plant at Studholme, in South Canterbury, in October 2007, using about $100 million of commercial and convertible loans from Nutritek.
Nutritek is part of Nutrinvest holding which floated its shares in April 2007, sold its Russian dairy business for $US350 million with the aim of investing in South-East Asia.
Turners Auctions inks ‘3 Year deal’ with IAG New Zealand
Submitted by Manish Verma on Wed, 07/08/2009 - 05:23
Tuners Auctions has entered into a three year contract renewal with IAG New Zealand, the country’s largest general insurer.
The newly signed pact will cover the management and disposal of all written-off vehicles, trucks, personal property, plant and machinery.
IAG expects selling 12,000 – 13,000 vehicles and assets each year under the contract. It consigns the vehicles to Turners Auctions that in turn, sells them at damaged vehicle auctions.
Frucor to acquire Simply Squeezed; seeks clearance from Commerce Commission
Submitted by Tangaroa Snell on Wed, 07/08/2009 - 05:12
The Commerce Commission has informed that it received an application from Frucor Beverages Ltd seeking clearance to acquire Simply Squeezed Holdings Ltd.
Frucor, which is owned by Suntory Holdings Ltd, a Japanese company, supplies a range of non-alcoholic beverages in New Zealand including the V, Arano, Fresh Up, Just Juice, McCoy and Citrus Tree brands.
While, Simply Squeezed, which is owned by Crescent Food Group Pty Ltd, manufactures the Simply Squeezed, Supreme Country, Bay Harvest and Allganics brand fruit beverages.
