There is hope for the 450 employees of Claymark Group as receivers of the company confirm an agreement for its sale has been signed.
The receivers - Brendon Gibson, Grant Graham and Neale Jackson of Calibre Partners – said in a statement on Tuesday they had signed an agreement forthe sale of the company's business and assets as a going concern. The agreement is unconditional and settlement is set to occur on September 30.
A consortium led by Paul Pedersen has bought the business.
Gibson said in the statement: "We are working through transition with the purchaser now, with settlement targeted to occur on 30 September".
"This is an excellent outcome for the business, staff, customers, suppliers and the communities in which Claymark operates."
Claymark employs 450 staff across its sites, located in Thames, Katikati and Rotorua, and utilises contractors and services from across the Bay of Plenty region.
"Securing a going concern sale in the current environment is testament to the drive and commitment of Claymark's management team and all its employees", Gibson said.
In the statement, Gibson also thanked customers and suppliers for their support through the receivership.
Pedersen said: "We are excited that the acquisition of the Claymark business has come to fruition".
"We acknowledge the input of the team that have worked tirelessly under difficult circumstances to continue to maintain quality products to markets around the globe."
