WHANGAREI - Northland Port Corporation has signed a conditional agreement to sell its wholly owned subsidiary Northport Engineering Ltd for about $6.25 million.
The sale of the loss-making operation is conditional on due diligence being carried out by the unnamed purchaser over the next two months.
Northland Port chairman Mike Daniel said the proposed buyer wanted to use Northport's engineering facilities to build luxury yachts.
He said the new owners hoped to employ up to 200 staff.
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