Posts tagged "Tegel"

Chicken prices shrink as industry grows

[3 August/Stuff] Chicken prices are decreasing with the expansion of the poultry industry. According to Statistics New Zealand, prices fell 8.5 percent in the last 12 months. A Woolworths NZ Spokeswoman said there were a number of factors that influenced food prices. She added simple demand and supply was one factor driving the trend in...

Northland councils recommend chook farm application to be declined

[27 July/NZ Herald] Two authorities in Northland wanted independent commissioners to decline resource consent applications for Tegel’s proposed broiler chicken farm. Tegel had applied for consents for various activities associated with construction and ongoing operation of the poultry farm. A hearing on the consents, however, has been suspended until further notice. Tegel said it needed...

Underground bores consented before controversial Tegel chicken farm approval

[2 July/NZ Herald] Tegel has been permitted to install eight groundwater bores on or near the site of a proposed broiler chicken farm in Northland that is awaiting resource consent. The bores are intended to supply water to the farm. The resource consent was processed separately. The Northland Regional Council said the adverse effects of...

Bounty Fresh launches Tegel takeover with minimum target already achieved

[29 May/NZ Herald] Bounty Fresh Foods has sent the offer document for its takeover bid for Tegel to the company. It is offering $1.23 per share. The offer is conditional on Bounty holding at least 50 percent of Tegel’s voting rights and Overseas Investment Office approval. Claris Investments had agreed to accept the offer meaning...

Northland councils request more details from Tegel on massive chook farm

[21 May/The Country] More information has been requested from Tegel about its proposed broiler chicken farm in Northland. The request included information on evidence of job creation and the assessment of odour. Tegel wants to set up a chicken broiler farm at Arapohue which is just outside Dargaville. Only 17 out of nearly 5,000 submissions...

Only 17 of 5000 submissions support Tegel chicken farm in Northland

[23 March/The Country] Out of the 5000 submissions made regarding a proposed broiler chicken farm just outside Dargaville, only seventeen were in support of it. Tegel wishes to set up a chicken farm at Arapohue with capacity to stock up to 1.3 million chickens and employ 28 people. Hearings will now be held before Council...

Public meeting to protest ‘huge and smelly’ Tegel chicken farm proposed near Dargaville

[13 February/ Northern Advocate] Residents around the site proposed by Tegel for a new 1.3 million bird broiler farm have organised a public meeting to discuss concerns about the farm that they describe as huge and smelly.  Tegel has lodged resource constraints for the farm which will be located south east of Dargaville but local...

Tegel’s plan for chicken farm to create jobs in Northland

[17 November/New Zealand Herald] Tegel Foods has applied to the Overseas Investment Office to set up a broiler chicken farm in Northland. The company has also lodged a resources consent application with Kaipara District Council. The farm will stock up to 1.3 million chickens and employ 28 people. The broiler chickens would be raised on...

Ex Tegel chairman cites ‘angst’ on missing profit target

[1 June/ National Business Review] Former Tegel chairman James Ogden said it was his decision to resign, adding that missing projected financial forecasts caused angst within management and between shareholders and the board. Mr Ogden decided as Chairperson he was the best person to take responsibility for missing the prospective financial information targets.  Mr Ogden’s...

Tegel’s profit doubles, but share price still falls sharply

[15 December/ Radio NZ] Tegel has announced a net profit of $15.1 million for the six months to October 2016, an increase of $9.1 million compared to the six months to October 2015. Tegel Chief Executive, Phil Hand said a 4 percent decrease in underlying profit to $35.2 million reflected a fall in profit margins...

Tegel shares rally on raw chicken news

[18 August/ NZ Herald] Tegel has announced that it has secured an agreement to export raw poultry to Australia, leading to an 8.5 percent increase in share price to $1.78. The company explained that a regulatory change opened up additional export opportunities into the Australia market, but revenue upside could not yet be quantified. The...

Tegel moves towards share offer

[6 November/ NZ Herald] Tegel, the poultry company, is expected to undertake a Trans Tasman IPO early next year.  Current owner, Affinity Equity Partners, had original planned a trade sale of the business but has now changed course and indicated that it is looking to launch marketing for an offer and dual NZX/ ASX listing...

Chicken producer Tegel back on the block

[18 August/ NZ Herald] Chicken producer, Tegel has been put up for sale, with both Goldman Sachs and Deutsche Bank appointed to sell the company. Tegel’s owner, Asian private equity firm Affinity Equity Partners, will look at either an initial public offering or a trade sale that could value the business at around $1 billion....

Tegel chicken takes off overseas

[23 June/ Business Day] Tegel is spreading its wings and is now exporting more than $100 million of chicken products a year to Africa and emerging markets in Asia. The company’s largest export destination is Australia but they are moving into a range of markets including Japan, Hong Kong and the UAE and planned to...