Australians buy Canterbury Packaging

Last updated 12:25 06/08/2012

Relevant offers

Australian paper merchant PaperlinX has bought a small Christchurch packaging company as it works to reverse poor financial performance.

PaperlinX said it had acquired Canterbury Packaging, a distributor of industrial packaging and hygiene, hospitality and safety products.

The purchase represented a small step in the growth of the company's Spicers New Zealand business, Andy Preece, PaperlinX's executive general manager in Australia and New Zealand, said.

"This acquisition will provide a building block for Spicers New Zealand to diversify and leverage our existing footprint and infrastructure to build a national business with the expertise from Canterbury Packaging," he said.

PaperlinX, which has posted losses in the past two financial years, has undergone significant changes in recent months as it works to turn around its performance.

Ad Feedback



Special offers
Opinion poll

How should the council plug its financial black hole?

Increase rates

Ask the Government for more money

Cut spending on roads

Cut spending on community facilities eg pools

Cut spending on capital projects eg cycleways

Sell, or partially sell, assets

All of the above

None of the above

Vote Result

Related story: Council coffers fall short for rebuild funding

Featured Promotions

Sponsored Content