INDEPENDENT NEWS

Transfer of TRH Services Ltd to NWF

Published: Fri 21 Oct 2011 10:43 AM
Transfer of TRH Services Ltd to NWF
Windflow Technology wishes to advise that today it has transferred ownership of TRH Services Ltd (TSL) to NZ Windfarms Ltd (NWF). The transfer has arisen because NWF has exercised an option granted to it pursuant to an Operations and Maintenance (O) Deed which Windflow and NWF agreed in August 2011.
TSL was established as a wholly-owned subsidiary of Windflow Technology to operate and maintain NWF's Te Rere Hau wind farm. TSL employs the 12 Palmerston North-based site staff and their Christchurch-based manager, and owns site vehicles and maintenance tools required for the O operation. The purchase price will be based on the net tangible asset value of TRH Services Limited.
NWF will take over the operation and maintenance of Te Rere Hau. Windflow Technology will continue to provide warranty support for the 97 Windflow 500 turbines which are operating there.
ENDS

Next in Business, Science, and Tech

General Practices Begin Issuing Clause 14 Notices In Relation To The NZNO Primary Practice Pay Equity Claim
By: Genpro
Global Screen Industry Unites For Streaming Platform Regulation And Intellectual Property Protections
By: SPADA
View as: DESKTOP | MOBILE © Scoop Media