Major forest products company Winstone Pulp International has announced plans to shut down its operations indefinitely, citing unsustainable energy costs.
The company, which paused work at its Tangiwai Sawmill and Karioi Pulpmill earlier this month, informed employees of the potential closure in a meeting, placing 230 jobs at risk.
The surge in wholesale energy prices, rising from $100 per megawatt hour in 2021 to $500 in 2024, has driven the company to this decision, as energy costs now comprise over 40% of their expenses, far outpacing international competitors.
Despite efforts to improve efficiency and lobby for energy cost relief, CEO Mike Ryan, stated told media the company’s position remains uncompetitive, with discounted offers from electricity providers falling short of what is needed to stay afloat.
The closure would also impact the Port of Napier, a key shipping partner for the company’s pulp and timber products.
A final decision on the closure is expected on September 9.
Successive governments over the last 30 years have caused economic sabotage. The last government being the worst.
This is devastating news.
In lockstep with the rest of the West, as they follow the Zionist’s NWO agenda of deconstruction, destruction, depopulation and civil unrest before ushering in the One World Government Technocratic Reset.
Ardern was charged with the responsibility of the destruction of NZ through economic sabotage and manipulation
Illustrated such claims being vilified by the completely reprehensible completely unjustified prolonged draconian lockdown measures in a response to a fake virus which broke the social fabric and backbone of the economy small businesses
This has placed a mill stone around the necks of this and successive generations
From which we are not likely to recover
The future looks bleak
Forestry is on shaky ground
The closure of Marsden Point has outed our fuel security and made us more vulnerable
And things haven’t even kicked off in the Middle East yet
America the UK and Europe are all in economic turmoil and decline
Everybody is broke and debt ridden
The conditions are perfect for the iskra and WW3
Ardern needs to be hauled back to NZ and put on trail to face charges for among other things crimes against humanity and treason
Just goes to show what a bought and paid for WEF puppet ‘she’ really was
Prime Ministers are selected not elected
Changed around every so often so as to maintain the illusion of democracy and that your vote counts and that you have some input and chance of changing things
Get real
Lol they’re just using Rio Tinto’s tactic… trying to squeeze a cheap power deal out of the Govt… as it is they’ve al ready had a 30% reduction of their power price, but like Rio Tinto, it’s never enough…
Frankly, I’m sick of subsidizing business, while they get all the tax breaks & big salaries etc…
If the management is at all competent, I’m sure they can find some constructive ways to keep themselves employed… if not then their management skills might need to be examined… same goes for all other big businesses complaining about how hard it is!
Try being a small business or a worker… then you’d all have something to complain about!