CeresNZ puts hand up for Mainzeal

A subsidiary of a disaster recovery company has indicated its interest in buying collapsed Mainzeal Property and Construction.

CeresNZ, a subsidiary of US based Ceres Environmental Services, has made public its interest in the company, saying it will enter preliminary discussions with the receivers.

CeresNZ was established in Christchurch and specialises in seismic strengthening and building construction; disaster recovery, property and land development, engineering and ancillary services.

Taking over ownership of Mainzeal could be "an extremely positive opportunity for growing its business'', said spokesman Bernie de Vere.

Mainzeal, one of New Zealand's largest construction companies, this week announced it had gone into receivership.

In a statement, director Richard Yan said the company could not continue trading because a "series of events that had adversely affected the company's financial position", combined with a general decline in commercial construction activity and lack of shareholder support.