Huhtamaki spends $6.3M laying off staff at scuttled New Lynn plant

Tue, 28 Aug 2012

By Paul McBeth Aug. 28 (BusinessDesk) - Finnish packaging company Huhtamaki Oyj spent $6.3 million on terminating staff at its loss-making plant in Auckland's New Lynn which it shut down last month. Huhtamaki New Zealand, the holding company for the New Lynn business, made a loss of $19.5 million in calendar 2011, bigger than the loss of $13.6 million a year earlier, according to financial statements lodged with the Companies Office. The company booked a $12.5 million expense on the restructuring of its flexible packaging division, which led...

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