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Transpacific Industries Group Limited (ASX:TPI) will put its New Zealand waste management business on the market so it can focus on growth opportunities in Australia.
Transpacific says the decision follows an extensive business and operational review.
The company says it’s made solid progress toward strengthening its balance sheet, reducing debt and improving its funding costs over the last two years.
However, the review highlighted that further flexibility would better position it for growth opportunities in its core Australian waste management operations.
Proceeds from the potential sale of Transpacific New Zealand would first be used to further pay down debt, but would then be utilised to bolster the group's balance sheet.
Transpacific Industries booked a net loss of $200.4 million in fiscal 2013.
