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Companies detail impact of earthquake

"SPILL IN AISLE 6": ABOVE & BELOW: Inside Foodstuffs' distribution centre in Hornby. The company says all its New World and Pak'n'Save supermarkets, and Four Square stores, are now open, with the exception of Kaiapoi. This list of

NBR staff
Tue, 07 Sep 2010

"SPILL IN AISLE 6": ABOVE & BELOW: Inside Foodstuffs' distribution centre in Hornby. The company says all its New World and Pak'n'Save supermarkets, and Four Square stores, are now open, with the exception of Kaiapoi. 

This list of companies providing information on the of the impact of Saturday's earthquake continues to lengthen.

Appliance manufacturer Scott Technology has today reported minimal damage to its Christchurch facilities and is working through processes to ensure buildings are structurally sound. No staff were injured.

Foodstuffs South Island has confirmed all its stores including Pak'n'Save, New World and Four Square are open following Saturday's quake, with the exception of Kaiapoi. While distribution has been affected, the company is working through its Dunedin centre to ensure shelves are stocked.

All but one Smiths City, Powerhouse and Furniture Concept stores are open after closure following the earthquake. The Moorhouse Avenue Powerhouse store remains closed pending inspection.

The National Property Trust's Eastgate Shopping Centre opened for business on Monday. NPT holds head leases at the Avonhead mall which had some minor damage and Hornby, which had none.

Melbourne-based Oceanagold reported there was no interruption to its South Island mining activities as a result of the earthquake.

DNZ Property Fund said there was some damage to two buildings it owns in Christchurch representing 3% of its total portfolio. The company carries full insurance for damage and loss of income.

Millennium and Copthorne Hotels report some damage. The Copthorne Hotel on Durham St is closed to guests until further notice. The Millennium Hotel Christchurch and Copthorne Hotel Christchurch Central have passed inspections and are open.

Postie Plus has sustained minimal damage across its 10 properties in the region, including Babycity. All but two stores are open which are in structures that were still being assessed for damage.

CDL Investments has a number of land holdings in Canterbury but reported that there appeared to be no material damage. However, while the company has settled a number of land sales in the region to date, it is assessing what impact the quake will have on future profits for the year.

Mainfreight has eight operational sites in Christchurch but damage was restricted to warehousing facilities. Recovery teams are working on salvaging product and repairing racks.

Tourism Holdings operates two sites in Christchurch. It's main rentals site on Memorial Avenue was expecting to be operational this morning. Another site that sells used campers has been shifted to Sawyers Arms Rd after sustaining damage.

Lyttelton Port of Christchurch said it is fully operational following an assessment by structural engineers. The port has sustained significant damage and the cost of repairs will be tens of millions of dollars. The container terminal resumed operation on Sunday and there have been limited effects on forecasted shipping movements.

Pike River Coal said its second export shipment of about 20,000 tonnes of premium hard coking coal worth around $6 million would depart Port of Lyttelton later today for India one day later than planned. There was no impact on underground mine workings or surface facilities at the company's mine on the West Coast of the South Island. All mine site surface buildings and access roads, bridges and embankments have been checked and show no signs of damage. Miners working underground at the time of the earthquake were unaware of the event and felt no effects," the company said.

Insurance company Tower expects claims the earthquake will cost the company $5 million, before tax.
 While the total of possible claims is not yet known, Tower expects that once all claims are received and assessed, the total payable will trigger its re-insurance arrangements, which its losses will be capped at $5 million. The after-tax effect of this is expected to be around $3.5 million.
 “While this is a new experience for many of those affected, Tower itself is in the business of insurance and the cost is part of our normal financial planning,” Tower managing Rob Flannagan said.

Goodman Fielder, one of New Zealand's major food companies, said its production assets in the Christchurch region received only minimal damage and no employees were injured. The company's milk plant and bakery in Christchurch are continuing to function normally. Its flour mill received some limited damage which is being repaired. The financial impact on the company is anticipated to be minimal. Fresh milk and bread will continue to be available in New Zealand's South Island, although a limited range of products may be available for a few days.

The Warehouse Group's eight Christchurch stores, its South Island distribution centre and four Warehouse Stationery stores were closed on Saturday for inspection. All Warehouse and Warehouse Stationery stores will be trading today. The South Island distribution centre has not experienced any significant damage and will resume normal operation during the week.

Kiwi Income Property Trust said that its Northlands Shopping Centre and the PricewaterhouseCoopers Centre office building suffered minor damage. At Northlands the Pak'n Save and Countdown supermarkets traded throughout the weekend following the restoration of electrical power around midday on Saturday. Mall areas will open today following the completion of limited repairs required to fire sprinkler systems over the weekend.

Goodman Property Trust said preliminary assessment of Glassworks Industry Park in Hornby, Show Place Office Park in Addington and Southpark Industrial Estate in Middleton has revealed no significant damage and these facilities remain operational.

Skellerup Holdings has two factories and a separate warehouse in Christchurch all located in Woolston, employing 200 staff, some of whom were working when the earthquake struck. "It is incredible that not only have there been no injuries to staff, it appears that there is little or no significant damage to buildings or machinery," acting chief executive David Mair said.

Fletcher Building said all of its businesses in the region have escaped without significant damage or injury to employees. All businesses are expected to be fully operational in the next few days.

Kathmandu Holdings said that as of yesterday morning its central city and Riccarton stores remain closed. Its group head office and distribution centre in Christchurch escaped significant damage and are operating.

NBR staff
Tue, 07 Sep 2010
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Companies detail impact of earthquake