Wellington engineering jobs secured

22:48, Aug 08 2012

Dozens of Wellington engineering jobs have been secured after a company snapped up a chunk of businesses from collapsed  Australian engineering conglomerate Hastie Group.

Horizon Energy, a Whakatane energy business which operates the electricity distribution business in the Eastern bay of Plenty, announced this morning that it was paying $5.25 million for the  heating, ventilation and air-conditioning businesses of Hastie New Zealand.

The deal sees Horizon take on around 225 staff from Wellington-based Aquaheat Industries, Auckland-based Hastie New Zealand and Christchurch-based Professional Building Services.

In May, Hastie Group stood down more than half of its 4500 strong Australian workforce as receivers moved in to try to recover debts of more than A$500m (NZ$648m).

Hastie employed around 480 workers in New Zealand, but receiver McGrathNicol said at the time that the local jobs were likely to be safe as the businesses were profitable.

McGrathNicol’s Andrew Grenfell said this morning that the latest sale did not include Hastie’s services business, including Cowley Refrigeration and Cowley Aquaheat, both based in Seaview in Petone.

Those businesses were being offered for sale as a package along with Hastie’s Australian services unit, but were operating normally as a sales process continued.

Contact Hamish Rutherford
Business reporter
Email: hamish.rutherford@dompost.co.nz
Twitter: @oneforthedr


The Dominion Post