Cool for kiwis, says ACFS

ACFS Port Logistics New Zealand continues to operate as per normal and is not subject to administration, management in Australia say.

As has been widely reported, the company’s Australian operation is now in the hands of administrators, albeit with Arthur Tzaneros remaining as chief executive.

Mr Tzaneros is managing director of the kiwi business.

In a statement, ACFS said ACFS Port Logistics NZ was “not subject to administration and its ownership is unaffected. ACFS NZ operations continue as normal”.

“We do not anticipate there being any supply chain concerns relating to operations in New Zealand,” the company stated.

In an additional statement to customers and partners, Mr Tzaneros said ACFS Port Logistics NZ was “a separate trading entity” and the administration had zero bearing on ACFS operations between the two countries.

He said the administrators of ACFS Australia were focused on financial restructuring and the company had not been immune “to the significant global challenges that have impacted cost and operating challenges, including material overdue debts that are owed to the business”.

“An administration process is allowing ACFS Port Logistics Australia to restructure its financial position and ensure it will be better placed to meet these industry challenges once it emerges from administration,” he said.

Mr Tzaneros said ACFS NZ would continue to be resourced and supported by its owners the Tzaneros family, which had “significant and varied business interests beyond the current subjected ACFS Port Logistics (Australia) business in administration”.

“The Tzaneros family is working with the administrators to resolve that situation as quickly as possible and ensure no impact on customers or staff.”