Hi Guys
A timber mill company has just announced that it will be closing 3 of its mills with a loss of about 160 jobs. These mills are located at Kaitaia, Tairua and Coromandel.
The Kaitaia mill will result in the loss of about 60 jobs.
The mills will be winding down over a 4 month period.
And for a change the mills are not owned by Carter Holt.
Regards
hi Muppett
that’s disappointing for kaitaia.
i don’t quite get this Timber Mill stuff in NZ, they love closing them down and reopening them elsewhere. We have 2 being built at Milton 30km from us in Balclutha !!
regards westan
I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database
Thanks for that..
Most interesting…
p.s. where do you dig up such good info like that..all being blamed on the high kiwi dollar as this company exported decking and building products to Oz and USA, and the kiwi peso is up by 32% against the USD over the last 2 years
when the going gets weird the weird turn pro
Exactly. The NZ economy has never been stronger and so is the dollar. The country is on FIRE! low unemployment etc. However the downside is that it is not so good for exports – because they become more expensive for the rest of the world. This was also in the article that Muppet quoted from because I read the whole thing, and was the reason for this.
So, this kind of thing is a result of a strong economy, as is inflation, which means rising prices. great if you already own and perhaps not as good if you don’t already. however the hedge to that is to borrow funds on shore and then you are buying apples with apples. Your only currency exposure is with your deposit money if you bought that over from offshore. Now I am going way off on a tangent….
cheers-
mini
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