20 years ago:
• Carter Holt Harvey (CHH) was exploring alternatives for its building products businesses, including whether to sell the businesses individually or as a group to corporate buyers, or collectively by way of a public float on the New Zealand Stock Exchange.
Chief executive John Faraci said the decision reflected the company’s continuing focus on growth and profitablity in its forests, wood products, paper, packaging, distribution and tissue-related businesses where CHH had strong leadership positions.
He said the businesses in question represented only 7% of the company’s sales, and believed their value in another form of ownership might be higher than through continued ownership by CHH.
15 years ago:
• RMBF company Leighs Construction Ltd won first place in the New Zealand Institute of Building Young Achiever of the Year 2002 Awards, an award that reflected the success and growth of his one-man construction company into a multi-million dollar business focusing on civil and commercial projects — all in the space of 10 years.
Mr Leighs said he realised early on in the formation of his business that in order to become a success the company would need to specialise in projects that others might avoid — projects with challenges that required innovative thinking rather than run-of-the-mill solutions to standard projects.
When asked how he would like to see his company develop, Mr Leighs said he would like to take his company’s skills “wherever the projects are that suit them”.
“We’ll identify jobs anywhere that suit our skills and go do the jobs. We’d like to see ourselves as one day being the best at what we do, anywhere.”
10 years ago:
• Building and Construction Minister Clayton Cosgrove said leaky homes claimants could be certain that the Weathertight Homes Tribunal and WHRS adjudicators were able to award general damages, including those for mental distress or anxiety.
Mr Cosgrove said the Weathertight Homes Resolution Services (Remedies) Amendment Bill cleared up any future problems that could arise as a result of a High Court decision in March 2007 that held general damages could not be awarded as compensation for any mental anxiety or stress under the legislation.
He said the Government moved quickly to rectify the situation, given that the judgment set a precedent that could have impacted on existing adjudications started under the WHRS Act 2002, and the administration of the WHRS Act 2006.
5 years ago:
• Fletcher Building Ltd (FBL) was set to make significant energy savings after signing an agreement with the Energy Efficiency and Conservation Authority (EECA) to introduce a company-wide energy efficiency programme.
The programme, proposed by FBL, included efficiency initiatives across six of their divisions. The company was targeting electricity savings of at least 17.5 GWh annually by 2014 — equivalent to the amount of electricity used by 2200 houses in a year, and worth approximately $2 million per year in avoided electricity supply costs.