INDEPENDENT NEWS

Ernslaw One purchase of WPI

Published: Tue 4 Dec 2007 11:00 AM
Ernslaw One purchase of WPI
Ohakune, 4 December 2007
Winstone Pulp International (WPI) announced today that it has entered into an agreement to sell its forests and wood processing facilities to Ernslaw One Ltd.
David Anderson, WPI’s Managing Director, said the purchase will strengthen existing WPI operations which will continue on a business as usual basis, and result in Ernslaw One becoming New Zealand’s fourth largest owner of forests.
“We see this move as extremely positive. The companies are a good fit. The sale will enable WPI to gain the benefits of operating on a larger scale and we look forward to joining the Ernslaw family of companies,” he said.
Ernslaw One will acquire WPI’s forests and also its processing facilities, which will operate as a subsidiary of the main group.
Ernslaw One owns and manages forests throughout the country and is one of New Zealand’s largest planters of new forests.
Based at Ohakune, WPI has forests in Waimarino and Karioi, and mills and manufactures pulp and sawn timber for local and export markets.
Both companies are privately owned, and Mr Anderson said they are now briefing staff, customers, suppliers and the local community.
The sale is subject to approval by the Overseas Investment Office.
ENDS

Next in Business, Science, and Tech

Grey Power Is Disappointed To Learn Of More Bank Closures
By: Grey Power New Zealand
Supply Chain On Brink Of Overload Says National Road Carriers
By: National Road Carriers
Supermarkets Announced As Government’s Second Market Study
By: New Zealand Government
Retail Sales Recover In The September 2020 Quarter
By: Statistics New Zealand
New Zealand Flies Into The Stratosphere
By: Kea Aerospace
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
Okay Boomer: Kākāpō Wins Bird Of The Year 2020
By: Forest And Bird
BNZ Optimistic About Year Ahead
By: BNZ
Market Study Of Supermarkets ‘positive’ For Shoppers, Manufacturers
By: NZ Food and Grocery Council
Consumer NZ Welcomes Supermarket Investigation
By: Consumer NZ
Supermarket Inquiry Should Look At Govt’s Role
By: New Zealand National Party
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media