Companies continue to assess impact of Christchurch quake

Thursday 24th February 2011 1 Comment

The impact of the Christchurch earthquake on business is being revealed in announcements from companies. The following is a summary of announcements today:

* Pyne Gould Corp said ten Perpetual Trust and four Marac staff remain unaccounted for and are believed to be still in the company's building. "This is a tragedy," managing director Jeff Greenslade said.

* Building Society Holdings, which is 72% owned by Pyne Gould Corp, has experienced liquefaction at its Sydenham branch and its Riccarton branch is unaffected. It is business as usual at for central management in Auckland.

*Spotless Group said there have been no reports of serious injury to its 612 staff in Christchurch. The Spotless laundry is operational. It is too early to assess the financial impact or the level of disruption to 650 client sites in the region.

*Windflow Technology's Christchurch office and factory in Riccarton has not been significantly affected by the earthquake. There has been light damage in the factory. All staff are accounted for. The company is operating with limited staff in Christchurch with the intention of resuming normal operations on February 28.

* DNZ Property Fund said its tenants and property assets in Christchurch appear to have escaped unharmed.

* Goodman Property Trust said the trust's four Christchurch properties have suffered only superficial damage. The properties account for 11% of its portfolio.

NZPA

Comments from our readers

On 24 February 2011 at 3:08 pm r Deppe said:

Ryman has its headquarters in Claredon House on the 11 th floor House in Christchurch. This was damaged. People above the 10 th floor were reported as trapped for a while at least. So the head quarters must be closed. Their website has also been down since the earthquake.