Forum Archive Index - August 2000

["Steve Moxham" <steve@ezysurf.co.nz>]

For those who haven't read it yet...

 

Date: 18/08/00 15:29:08

GEN: FFS: CITIC STATEMENT IN RESPONSE TO MARKET SPECULATION

CITIC New Zealand has made an announcement in response to market speculation
on the imminent sale of Fletcher Forests. "There has been no real progress in
resolving the protracted dispute between Fletcher and CITIC in relation to
the Central North Island Forestry Partnership. "While we have been continuing
to negotiate with Fletcher over past months we are disappointed at progress.
None of the disputes we have with Fletcher have been resolved including that
in relation to the supply of pulpwood to Norske Skog. The Central North
Island Forestry Partnership is now in the position of supplying pulpwood
without a contract. Our High Court action to resolve the serious dispute
between us continues on schedule, and we are at present in the discovery
stage. A Court hearing is scheduled for 19/09/2000".