The week in review

Chinese forest products company Citic lost its lengthy High Court battle against Fletcher Challenge Forests but said it might appeal. Justice Judith Potter ruled claims Fletcher mismanaged the joint venture Central North Island Forest Partnership could be pursued only by the partnership's receiver, Ferrier Hodgson.

Sharebroker and investment advisor First New Zealand Securities began business following a management buyout of the operations of global investment bank Credit Suisse First Boston.

Dairy co-operative Fonterra extended its DairiConcepts joint venture with Dairy Farmers of America. A DFA plant in New Mexico will be expanded to produce milk protein concentrate and other dairy ingredients.

Shell New Zealand got Commerce Commission clearance to buy The Gas Company, a retailer of LPG and LPG appliances in Canterbury.

     

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June 25th Morning Report