Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of TechRentals NZ Ltd ("TRNZ") for a cash consideration of NZ$2.592 million (New Zealand dollars).
TRNZ is engaged in the specialist rental of test & measurement equipment and calibration services in New Zealand.� The business, which has been established for over 30 years, currently operates from a single location in Auckland, New Zealand.
In April 2016, Vp plc announced the acquisition of TR Pty Ltd ("TR"), also engaged in the specialist rental of test & measurement equipment and provider of calibration services in Australia and Malaysia.
TRNZ used to be part of the TR group of companies but was disposed of under previous ownership in 2009.� The TRNZ business will operate within the wide TR group of businesses which have existing activities in Australia, New Zealand and Malaysia.
Jeremy Pilkington, Chairman of Vp plc, commented:
"We are delighted to welcome the experienced TRNZ back to the TR Group and also to the wider team at Vp.� The acquisition of TRNZ further increases the TR Group's exposure to the healthy New Zealand market."
Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and oil and gas, both in the UK and overseas.
The Group comprises a UK and an International division:
Groundforce -Excavation support systems and specialist products for the water, civil engineering and construction industries primarily in the UK, but also in the Republic of Ireland and mainland
Hire Station - Tools and specialist products for industry, construction and home owners.
Torrent Trackside - Infrastructure equipment and services for the railway renewals and maintenance industry.
TPA - Portable roadway access solutions to the transmission, outdoor events, construction and utility sectors in the UK, the Republic of Ireland and mainland Europe.
UK Forks - Rough terrain material handling equipment and tracked access platforms for the housebuilding, general construction and industrial markets.
Airpac Bukom Oilfield Services - Equipment and service providers to the international oil and gas exploration and development markets.
TR Group - Specialist rental of test & measurement, communications and audio visual equipment to a breadth of markets including electrical, telecommunications, manufacturing, construction, defence, oil and gas, mining, and government in Australia, New Zealand and Malaysia.
Further information is available at www.vpplc.com/investors
The government is updating copyright regulations to ensure the Copyright Act 1994 full takes account of New Zealand international copyright obligations, says Commerce and Consumer Affairs Minister Paul Goldsmith.
“When a foreign work is protected by copyright in New Zealand, it is protected because of international agreements to which New Zealand is a party to. Our Copyright Act needs updating from time to time to ensure continuity with our international obligations,” says Mr Goldsmith.
Amendments to the Copyright (Application to Other Countries) Order 1995 (the Order) will provide nationals of countries who have recently joined the World Trade Organization, the Berne Convention for the Protection of Literary and Artistic Works and the Universal Copyright Treaty with copyright protection in New Zealand.
“A significant number of new countries have joined one or more of these agreements since the Order was last updated in 2000.
“At the same time, amendments to the Order will help ensure New Zealand’s creative community of copyright owners receive reciprocal protection in these countries,” says Mr Goldsmith.
The update also includes some minor technical amendments to bring the language of regulations into line with changes previously made to the Copyright Act through the Copyright (New Technologies) Amendment Act 2008.
The regulation update takes effect 1 January 2017.
Mercer Group plans to buy Hastings-based Haden & Custance for $2.25 million as the unprofitable stainless steel fabricator transitions to a food processing and packaging business.
The Christchurch-based company entered into a conditional deal to buy H&C's shares, which will add a robotics system used to prepare bulk products such as cheese and butter for processing, and offices in Melbourne and Wisconsin, US, it said in a statement. The deal would be funded through a placement of new shares or debt.
Mercer is currently raising $7 million through an underwritten rights issue, though chief executive Richard Rookes says the acquisition would need new funding.
The company wants to reposition the steel business's focus to food processing and packaging technology, giving it exposure to higher-value export business.