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Company Briefs

Friday 11th August 2000

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Contact Energy appointed Edison Mission Energy vice-president, business development for Australia and the Asia Pacific regions Stephen Barrett as acting chief executive following the departure of Paul Anthony.

Receivables management company RMG won a contract to supply debt collection services to TransAlta, the country's largest energy retailer with 500,000 customers.

The Australian Securities Commission charged two Australian directors of Max Resources, Jeffrey Verheggen and Michael Langoulant, with improper use of their positions as officers of Max subsidiary Robregal Investments.

Enza will register the 19.9% apiece share stakes of GPG and F R Partners after earlier questioning whether they conformed with the company's ownership restriction rules.

Biotech company Genesis Research will raise $13.8 million through a 2.76 million share placement, lifting its issued capital to 18.7 million shares. Six institutions have already taken 1.76 million shares.

Tasman Agriculture reported 37% higher $12.6 million May-year net earnings on revenue of $47.8 million after favourable weather led to strong milk production.

Four new directors have joined the Air New Zealand board, taking its strength to 13. Cheong Choong Kong, Michael Tan, and ANZ Bank chairman and Singapore Airlines director Charles Goode have joined as Singapore Airlines nominees and Liz Coutts, a director of Viking Pacific, Worley Group, and Industrial Research Ltd, has joined as an independent.

Paper Plus merged with the Topline franchise and the Paper World co-operative to form a nationwide stationery and bookselling chain with 171 outlets. They estimate they will have about 25% of the market, behind Whitcoulls with 60%.

Wool scourer and exporter Wool Services Inter-national, 59.3% owned by Hellaby Holdings, more than tripled June-year net earnings, to $1.7 million. Chairman Pat Morrison said the withdrawal of Cavalier Corporation from the sector left WSI as the largest New Zealand player.

Owens Group bought Waitaki Transport's livestock and rural transport division, extending its rural transport business in Otago and South Canterbury.

Australia's Reindeer Investments, a licence plate and road safety-equipment maker, applied for clearance to buy Harding Licensing Systems, a new entity owned by Viking Pacific's Harding Electronic Systems.

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