Hancox adds timber to collection

By Lesley Springall

Former Brierley Investments chairman and now prominent Nelson businessman Bruce Hancox has added a timber processing company to his stable.

Hunters (1998) Ltd extends his range of businesses largely acquired since he left Brierley Investments in 1996. Those interests now include ship builder N&B Group, a new radio company, The Planet, and others including a cinema and a wire rope business.

Mr Hancox said he was particularly interested in Nelson-based companies which had capabilities beyond the local market.

"I think Hunters has a lot of potential. New Zealand is recognised as a wood-producing country and the company has a specialist niche in this area."

Hunters was formed in February 1998, to restructure itself out of receivership from its previous guise as Hunter Laminates, which had been in receivership since the end of 1996.

The receiver of Hunter Laminates and director of Hunters (1998) Ltd, Bruce McCallum, said a lack of working capital had forced the company into receivership. Shortly before its financial demise, the previous owner, Alan Hunter, had entered into a large contract with Sydney Olympics to build $2.5 million worth of timber laminated beams.

The contract was successfully completed shortly before Hunters (1998) Ltd was formed.