Z Energy to shut Gracefield chemical plant next March after struggling to find buyer

Mon, 01 Jul 2013

July 1 (BusinessDesk) - Z Energy, the service station chain slated for a listing later this year, will shut its chemical manufacturing plant in Gracefield next March after failing to find a buyer for the plant. The Wellington-based company will keep the plant open until the end of March 2014 after reaching an agreement with a major customer, it said in a statement. The plant has been on the market for two years, when Z inherited in the purchase Shell’s downstream transport fuels business. “Our Gracefield operation has found it increasingly...

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