Receivers called in after sale of pine processor Claymark falls through

Wed, 04 Dec 2019

Receivers have been appointed to Claymark Group after a deal to buy the country’s biggest manufacturer and exporter of premium pine products fell through.New Zealand Future Forest Partnership had agreed to buy Claymark’s local and US operations, taking on more than 500 staff across six manufacturing sites and annual revenue of about $185 million. The conditional deal had been expected to settle on Sept. 30.However, Claymark today said the board asked its senior lender to appoint receivers as settlement dragged on and the company couldn't secure...

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