SPN
09/07/2015 11:44
GENERAL
NOT PRICE SENSITIVE
REL: 1144 HRS South Port New Zealand Limited (NS)
GENERAL: SPN: South Port Undertaking Due Diligence on Replacement Tug
NZX Statement
9 July 2015
South Port Undertaking Due Diligence on Replacement Tug
South Port NZ Ltd is investigating the purchase of the second-hand Voith
Tractor tug "Te Matua" from Port Of Tauranga. Te Matua has a 40 tonne
bollard pull capacity and was manufactured in 1992 - refer image below. The
Company is currently completing due diligence on the plant and subject to a
favourable assessment it is expected that delivery to Bluff will occur within
the next two months.
A transaction value of approximately $2.0M is anticipated, should the
purchase proceed. The tug is required to replace South Port's current oldest
tug Monowai (28 tonne bollard pull and manufactured in 1973). Te Matua would
provide South Port with a new two tug configuration that would increase the
Port's combined bollard pull capacity from 63 tonne to 75 tonne.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr Mark O'Connor
Chief Executive
Tel: 03 212 8159
Mob: 0272 560 407
Mr Rex Chapman
Chairman
Mob: 027 454 8455
SOUTH PORT FACTS:
- Owns and manages assets which have a book value of $46 million
- Directly employs more than 100 full time equivalent staff
- Is the only Southland based company listed on NZX - market capitalisation
as at 30 June 2015 equated to $120 million
- Handles in excess of 2.7 million tonnes of cargo in a normal trading year
- Offers full container, break-bulk and bulk cargo capability and services
the following main cargoes:
~ import - alumina, petroleum products, fertiliser, acid, stock food and
cement
~ export - aluminium, timber, logs, dairy, meat by-products, fish and
woodchips
- Has split its land-based operating resource into four main divisions -
dairy warehousing, containers, cool & cold storage and general cargo
- Undertakes its primary port operation on a 40 ha man-made Island Harbour
situated at Bluff
- Operates a separate dedicated fuel berth at Bluff Town Wharf plus provides
the Tiwai Wharf facility to NZAS under a long term licence
- Services vessels carrying approx. 1.0 million tonnes of cargo destined for
movement across the Tiwai Wharf each year, of which 2/3 is raw material
imports while 1/3 is finished aluminium product
- Has approximately 7 ha of on-port land available for further port
development or industry establishment
End CA:00266823 For:SPN Type:GENERAL Time:2015-07-09 11:44:40
