Whakatāne Mill owner refinances $85m BNZ debt but flags going concern risk

Whakatāne Mill. (Image: File)

Thu, 18 Dec 2025

The parent company of Whakatāne Mill has refinanced $85 million of banking facilities with the Bank of New Zealand. It is forecasting an improved financial performance following significant investment since acquiring the paperboard plant in 2021. However, the company remains reliant on its shareholders' support and notes material uncertainty about its ability to continue as a going concern following sizeable multi-year net losses amid rising energy costs.Power Paperboard, which is backed by a consortium of mainly overseas-based investo...

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