Business as usual for waste firm after buy
The 300-odd Christchurch employees of rubbish collector and waste processor Transpacific Industries NZ are being assured no changes are on the cards as a result of the company being bought by a big Chinese investor.
Yesterday the Australian parent Transpacific Industries Group said it had sold its New Zealand business for $950 million.
The buyer is large Chinese state-owned enterprise, Beijing Capital Group.
Transpacific NZ runs Christchurch's household waste collection under a contract with the Christchurch City Council and other municipal waste collections around the country.
It also owns a half share in the Burwood and Kate Valley landfills which it runsThe managing director of Transpacific NZ, Tom Nickels, said it had communicated with its 1100 employees in New Zealand.
''There will be no change,'' Nickels said yesterday.
Transpacific and five local councils formed a public-private partnership, Transwaste Canterbury, to develop and run the Kate Valley landfill more than 10 years ago and it was opened in 2005.
The chairman of Transwaste Canterbury, Gill Cox, said he had been told by Nickels that it would be ''business as usual'' for Kate Valley