TEC Projects, a wholly-owned subsidiary of Pact Group (NZ), is seeking approval from the Commerce Commission to buy Dunedin-based packaging company Tecpak Industries.Both businesses manufacture and supply thin walled plastic containers, which are used for
TEC Projects, a wholly-owned subsidiary of Pact Group (NZ), is seeking approval from the Commerce Commission to buy Dunedin-based packaging company Tecpak Industries.
Both businesses manufacture and supply thin walled plastic containers, which are used for a number of food products such as yoghurt and margarine.
The Otago Daily Times reported yesterday that majority owner Rangatira Ltd had announced the sale and it would be business as usual under the new owner, which is ultimately the Geminder family of Victoria. Rangitira is owned by the JR McKenzie Trust.
In New Zealand, Pact Group manufactures and supplies a range of plastic packaging products, including large and small food storage containers.
Tecpak manufactures and supplies small plastic packaging products.
Pact Group owns more than 50 manufacturing plants, employs about 3200 staff and is run by the son-in-law of late billionaire Richard Pratt, the Australian newspaper reported. There has been speculation that the company may float on the Australian sharemarket. The company has completed more than 20 acquisitions since 2002.
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