Winstone to close, blames energy costs and market conditions

More than 250 people have lost their jobs at the Karioi Pulpmill and Tangiwai Sawmill. (Image: NZME)

Tue, 10 Sep 2024

Winstone Pulp International will close indefinitely, citing uncertainty over future electricity prices and the relatively low current and forecast market prices for pulp and timber.Winstone Pulp International (WPI) produces sawn timber products and high-yield pulp for packaging from its Karioi Pulpmill and Tangiwai Sawmill.The firm – owned by Oregon Group, the New Zealand investment vehicle for the Tiong family of Malaysia – employs more than 250 people, making it the largest permanent employer in the Ruapehu District.Chief executiv...

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