NZX-listed Rua Bioscience has announced that its Australia-based manufacturing partner, Cann Group, has given the firm 12 months’ notice to cancel its existing supply contract.
Cann Group supplied the company with a white label product that it sold in overseas markets, like Germany.
Rua said Cann gave notice, because it wanted to renegotiate the terms of the current contract.
The company subsequently engaged a lawyer to consider its options.
“There have been recent quality issues with Cann’s export products, which had already prompted Rua Bioscience to proactively explore alternative supply partnerships,” the company said in a brief statement on December 4.
The company said it had placed emphasis on securing “multiple additional supply pathways” to key markets in the past year.
“We now have more surety that we can consistently supply patients in our key markets of Germany, Australia and New Zealand,” it said.
Tony Peter Phillipson was fined $20,000 in the Nelson District Court on Wednesday, after earlier pleading guilty to three charges under the Fisheries Act and Fisheries (Geospatial Position Reporting) Regulations 2017 for removing a mandatory Geospatial Position Reporting (GPR) device from his fishing vessel.
The incident occurred in April when Phillipson sailed from Port Tarakohe in Golden Bay. He removed the GPR device near Waitui Bay, concealing it in waterproof bags attached to buoys. The device was later found by a member of the public and returned to MPI.
Phillipson returned three days later and was caught with almost six tonnes of fish worth approximately $1.2 million. It was unknown where he had travelled to during that time. Philipson had his vessel and equipment forfeited to the Crown.
Lakeland Industries, a prominent American PPE manufacturer, has acquired New Zealand's Pacific Helmets for about $8.5 million. This strategic move retains the Whanganui-based factory, technology, and staff, ensuring continuity and local economic support.
The acquisition by Lakeland, known for its protective clothing for industry and first responders, enhances its global fire services portfolio. Pacific Helmets specialises in safety helmets for firefighting, rescue, and paramedic services, and said it will benefit from Lakeland's extensive global network.
The deal is expected to boost Lakeland's sales revenue by $7-8m in the next fiscal year.
Fuel import terminal operator Channel Infrastructure has appointed Ampol executive and Z Energy director Andrew Brewer to its board, replacing his colleague Lindis Jones, CEO of Ampol subsidiary Z Energy.
Brewer is not classed as an independent director as Z Energy owns 12.8% of Channel Infrastructure.
Brewer is also a former chief operating officer of NZ Refining, as Channel Infrastructure was previously known before it dismantled its refinery business at Marsden Point.
He is currently executive general manager of Ampol’s fuel supply chain, with responsibility for Ampol’s 15 fuel terminals and one refinery.
Key export commodity whole milk powder has bounced higher again at the overnight dairy auction.
The commodity gained 2.1% to US$3104 per tonne, while the overall GDT index rose 1.6% to US$3323, following a flat result late last month.
Whole milk powder helps determine the seasonal payout to dairy farmers and sluggish demand from China has put pressure on commodity prices this year.
In October, dairy cooperative Fonterra raised its forecast payout for this season because of improved supply and demand dynamics.
The company lifted the forecast Farmgate Milk Price range to $6.50 - $8 per kg of milk solids, with a new midpoint of $7.25, up 50c.
ASB said further recovery in the whole milk powder price would support this season's farmgate milk price.
“That said, lower offer volumes will have boosted prices and we still expect a comparatively low farmgate milk price this season,” ASB said.