Friday 31st August 2018
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Tourism Holdings’ campervan manufacturing business has been cleared to acquire a new site to expand its operations in Hamilton.
Action Manufacturing is acquiring a leasehold interest in 1.5 hectares of land at Te Rapa for $8.6 million, the Overseas Investment Office says. The company, half-owned by Tourism Holdings, needed OIO clearance due to the site’s size and its location next to a recreation reserve.
“The applicant intends to develop the land into a multifunction manufacturing environment that will allow it to increase production, resulting in additional jobs, exports and development capital to modify and develop the land,” the OIO said in a statement.
“The applicant plans to relocate its Hamilton premise to the land to allow manufacturing growth and meet increasing export demand in Australia.”
Tourism Holdings is the biggest seller and renter of campervans New Zealand and Australia, and the second-largest in the US. It also runs the Kiwi Experience and Discover Waitomo group of tourist attractions.
In the June year just ended THL bought or built 2,755 campervans, 14 per cent more than a year earlier. More than half came from Action Manufacturing.
Action has plants in Hamilton and Auckland and employs more than 200 staff. The firm, which also makes ambulances, light buses and other specialist vehicles, contributed about $2.9 million to THL's group full-year result.
Earlier this week Action announced the purchase of Auckland-based Fairfax Industries, a maker of refrigerated truck and trailer units, as part of a strategy to expand into large commercial vehicles.
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