NZ Refining hydrocracker leak to cut profit by up to $7m
By Sophie Boot June 29 (BusinessDesk) - New Zealand Refining's hydrocracker shutdown will cost it between $5 million and $7 million, with the machinery out of service until the middle of next week. A hydrocracker uses hydrogen to break down heavy oil fractions, recovered f...
Fletcher sells stake in metal recycling JV for $42M as it sheds non-core assets
By Sophie Boot June 29 (BusinessDesk) - Fletcher Building is selling its stake in metal recycling company Sims Pacific Metals for $42 million as part of its new strategy to refocus on core businesses. The half-share will be sold to its partner in the Sims Pacific joint vent...
MARKET CLOSE: NZ shares up; Comvita and Kathmandu rally while Fisher & Paykel drops
By Sophie Boot June 28 (BusinessDesk) - New Zealand shares rose, led higher by Comvita and Kathmandu Holdings, while Fisher and Paykel Healthcare Corp and Trade Me Group fell. The S&P/NZX50 Index gained 2.27 points, or 0.03 percent, to 8,998.79. Within the index, 32 stocks...
Twyford hopes Kiwibuild will drive down construction costs
By Sophie Boot June 28 (BusinessDesk) - Housing and urban development minister Phil Twyford says construction companies and developers are on board with Kiwibuild, despite his hope that the government will be able to keep driving down prices for those houses. At a media bri...
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