News: Pūhoi-Warkworth motorway draft welcomed

puhoi-warkworth-1-img4NZTA says it welcomes a draft decision by the Board of Inquiry to grant consents to construct the first section of a new motorway north of Auckland – the Pūhoi to Warkworth section of the Ara Tūhono Pūhoi to Wellsford road of national significance.

NZTA acting highway manager, Steve Mutton, says the agency will study the details of the draft decision and provide comments back to the environmental protection authority (EPA) within the 20-working day comment period.

“The draft decision is an important step towards improving transport connections between Auckland and Northland and the rest of the upper North Island,” says Mutton. Continue reading “Pūhoi-Warkworth motorway draft welcomed” »

News: Turners – an $82m Dorchester target

Micheal Dossor

Micheal Dossor

Vehicle finance company, Dorchester Pacific, plans to offer $3 a share in cash, shares and notes for Turners Auctions, valuing the auction company at $82 million, after winning support from chairman and major shareholder Michael Dossor.

The offer amounts to a 9.1% premium on the most recent trading price of Turners of $2.75,.

Dorchester currently owns 19.85% of Turners while the target company’s chairman owns 20.8% through Bartel Holdings, for a combined 40.65% stake. Continue reading “Turners – an $82m Dorchester target” »

News: Spanners fly in Southland

Fastest-spanner-2014-7Automotive technicians from across Southland have battled it out with technique, skill, teamwork and panache for the title of MTA Fastest Spanner: 2014.

Ten two-man teams from the south of the South Island came together, to pull engines apart, and then put them back together to working order in the fastest possible time.

More than 300 spectators watched the event inside the Invercargill Workingmen’s Club, organised by the MTA Southland Branch. Continue reading “Spanners fly in Southland” »

News: Mainfreight fraudster jailed for 4.5 years

Mainfreight

An Auckland woman who admitted stealing nearly $4.5 million from Mainfreight – her employer for more than 20 years – has been sentenced to four years, six months’ jail.

Sushila Devi Mosese, 51, pleaded guilty to eight charges of dishonestly using a document to obtain nearly $4.5 million from Mainfreight, reports the NZ Herald.

Mosese’s offending dated back to 2006. She was Mainfreight’s credit controller, in charge of collecting outstanding invoices. Court documents show she deposited cheques for payment into a bank account with a similar name to her employer. Continue reading “Mainfreight fraudster jailed for 4.5 years” »

News: The good news continues for auto and equipment industries

ANZ-logo-Strip-with-WLIYW-rectangularBusinesses continue to be confident about the future, but the level of optimism is easing, says the ANZ business confidence survey. Confidence across all regions remains high.

This is seen as continued good news for the vehicle sales sector – also for the transport and heavy equipment industries.

Optimists continue to significantly outnumber pessimists, with a net 40% of firms are optimistic about general prospects, down 3 points on the month prior. Continue reading “The good news continues for auto and equipment industries” »

News: Frank Willett exits VINZ

Frank Willett

Frank Willett

The CEO of Vehicle Inspection New Zealand, Frank Willett, is leaving the company for personal reasons on August 1.

VINZ announced Willett’s resignation yesterday ‘with sadness’.

Gordon Shaw has been appointed as acting CEO from this Monday (July 28), while VINZ seeks a permanent replacement. Continue reading “Frank Willett exits VINZ” »

News: No more OCR increases until 2015?

graeme-wheeler-bio-for-website00

The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.5% but economists believe this will be the last until 2015.

According to a Reuters survey of 16 New Zealand economists, todays hike to to 3.5% was expected but it says the market is convinced the central bank will wait until 2015 before hiking it up again in the face of falling commodity prices, tame inflation, and moderating house prices.

Reserve Bank Governor Graeme Wheeler made the following comments in a statement to media: Continue reading “No more OCR increases until 2015?” »

News: Volvo Trucks increases profit and sales

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Swedish truck maker AB Volvo says profit in the second quarter of 2014 increased by 21% on the back of cost savings, efficiency schemes and streamlined production.

Net profit in the April to June period jumped to 2.5 billion kronor ($365 million) from 2.1 billion a year earlier. Sales were marginally down at 72.6 billion kronor compared with 72.8 billion kronor the same period last year reports the Associated Press (AP).

In a statement to AP, Volvo Trucks chief executive officer Olof Persson says that truck sales have developed particularly well in North America and Japan with increased market shares during the quarter, but that was offset by declines in South American and the sluggish European market. Continue reading “Volvo Trucks increases profit and sales” »

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