Vertex lists on Monday

By NZPA

Friday 28th June 2002

A share offering in Vertex Group Holdings, one of Hamilton's biggest employers, closes today and the company will be listed on the stockmarket from Monday.

Vertex plans a float valued between $60 and $70 million.

The company is New Zealand's largest rigid plastics packaging manufacturer , and has rebuilt its four manufacturing sites, including Hamilton, to support its export-led growth.

Vertex employs 269 workers at its Te Rapa plant where it makes household and industrial containers, large drums and technical injection componentry.

Since it was sold by Carter Holt Harvey less than two years ago, Vertex has lifted turnover from about $75 million to $90 million and has assets of about $63 million.

Australian investment company Pacific Equity Partners and partners are selling out. Managing director Paddy Boyle and 10 other managers will remain with the company on listing.

Mr Boyle said Vertex products loomed large in people's lives but most of the public were unaware of it.

Some of its other products included icecream containers for Tip Top, Kiwi and Talley, plastic recycling bins , foam meat packaging trays , speciality drench guns and vacuum packs, and ear tags for animal identification.

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