Company
Port of Tauranga Ltd was established in 1985, and has also established MetroPort Auckland in 1999, an inland port service. The net profit for the year to 30 June 2006 was NZ$ 31 million, down 7.8%. Trading on the NZX as one of the 50 largest listed companies of New Zealand, its market capitalisation is NZ$ 417 million (2 October 2007).
Several times in the late 2000s, Port of Tauranga has proposed to buy (or merge with) its larger rival Ports of Auckland (POAL). While this has been rebuffed by POAL (which is owned by the Auckland Regional Council, rather than listed on the NZX), Port of Tauranga is still as of August 2008 insisting that a merger of various New Zealand ports is required to make them competitive to Australia, or risk becoming a country solely of reshipment ports. In turn Ports of Auckland has proposed to buy only the container business of Ports of Tauranga, something which Port of Tauranga chairman John Parker notes would add little value.
Read more about this topic: Port Of Tauranga
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