Forestry company Claymark Group has been tipped into receivership.
Grant Graham, Brendon Gibson and Neal Jackson of financial advisory firm KordaMentha have today been appointed as receivers to the companies included in the group.
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The business currently employs 510 workers across six manufacturing sites in Bay of Plenty, Thames and Auckland, producing radiata pine wood products for export.
According to the receivers, the company has an annual turnover of around $160 million.