By Chris Hutching
Friday 26th May 2000 |
Text too small? |
A couple of months ago a stake of about 80% was bought by Apples Aotearoa, associated with Grocorp director and Timaru businessman Ed Sullivan and Ross Lund.
Mr Sullivan confirmed that options were being evaluated. He remains confident for the industry and for Grocorp's immediate outlook.
A successful insurance claim for hail damage of about $2 million would strengthen the balance sheet.
Mr Sullivan said there would be some positive results from the independent marketing Grocorp was involved in with Tesco.
One of the vendors in the recent share deal was South Canterbury Finance, which subsequently has provided finance at 12%, stepping into the breach when ANZ proved unwilling to continue its relationship.
Mr Sullivan said the ANZ move was based on its opinion of the apple industry. It was owed $10 million.
No comments yet
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report