NZ Refining pushing hard to shave $4M off likely annual loss

Sun, 24 Aug 2014

By Pattrick Smellie Aug. 25 (BusinessDesk) - A combination of cost cutting, more efficient processing and one-off market factors should limit New Zealand Refining's expected loss for the year to around $23 million, instead of the $27 million it would otherwise face, says managing director Sjoerd Post. "The world is difficult and unkind but we are taking a phenomenal amount of different shaded actions to come out of this," said Post, who likened the approach to the refinery as that of a private equity investor, trying to "squeeze the last...

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