Port of Tauranga

Port of Tauranga Acquires Tapper Transport

Posted on 18th March 2010

Port of Tauranga today announced it has entered into an agreement to acquire Auckland based Tapper Transport Limited and associated companies with effect from mid April 2010.

This is an announcement we have been working on for several months and we are deeply saddened that Simon Tapper cannot announce it with us jointly, following his sad passing yesterday after a period of ill health. It was Simon's and his family's wish to proceed with the announcement as only days ago he was so looking forward to today. In his mind, he had regarded it as perfect closure for a career in the freight business that he was so passionate about.

Port of Tauranga Chief Executive, Mark Cairns, says the primary objective of the acquisition is to further grow the business through MetroPort, Port of Tauranga's inland port at Southdown, Auckland.

"MetroPort is a key part of the Auckland supply chain, strategically located at the centre of the majority of Auckland's imports and exports.

"Our purchase of Tapper Transport will enable us to further develop MetroPort as an integrated freight centre and distribution hub - a vision Tapper Transport Director, Simon Tapper, has promoted for a number of years."

Tapper Transport's operations are adjacent to MetroPort at Southdown.

"Our customers will benefit from a more cost-effective service, by shipping into and out of MetroPort and taking advantage of the proximity to warehousing and distribution services," says Mr Cairns.

Mr Cairns says Tapper Transport was a logical choice as a business partner because of its compatibilities with Port of Tauranga. "It's a family company with long-serving staff and a strong customer service ethic, and we look forward to working together to grow the company for the benefit of our customers."

Chris Tapper said "Simon had a vision as to how the Auckland container market would operate in the future. The development of our new multimodal container hub adjacent to MetroPort is a realisation of that vision.

"He saw that the physical location of the two adjacent facilities in the centre of 80% of Auckland's importers and exporters would give our clients the most cost effective and efficient service possible.

"He had no doubt that the project would form an essential part of Auckland's freight infrastructure, and for that reason, Tapper Transport could not have undertaken it alone.

"Simon recognised that the close alignment of Port of Tauranga's and Tapper Transport's culture, and our shared vision, made the choice very easy.

"Simon felt that the formation of this partnership had been a breath of fresh air in what had been an extremely trying time for importers and exporters."

Tapper Transport offers a range of logistics services including:

• Wharf cartage of containers and general cargo
• Inland multimodal container hub
• Container consolidation, packing/unpacking and warehousing
• North Island distribution of bulk fluids
• Integrated transport IT solutions
• Coastal shipping via a shareholding in Cubic Transport Limited.

Port of Tauranga will purchase 100% of the shares and assets in the group. The agreement includes a two-year earn out provision, with the current Directors staying on over this period.

About MetroPort
MetroPort was established in 1999 in a strategic location in the heart of Auckland's industrial and commercial belt. In the year ended 30 June 2008, MetroPort handled a throughput of more than 170,000 TEUs. It offers proximity, ease of access and fast turnaround for Auckland-based importers and exporters. MetroPort is served by up to four trains per day (expandable to 12), transferring cargo to and from the Tauranga Container Terminal. MetroPort is fully Customs-bonded and Ministry of Agriculture and Forestry-approved, with an on-site fresh produce quarantine facility, along with fumigation and door inspection areas. It has 1,000 ground slots including 60 reefer points.

About Tapper Transport
Tapper Transport is the largest wharf carrier in New Zealand and operates the largest FAK (Freight All Kinds) container freight station in Australasia. It has been operating since 1984 and is owned and managed by Chris Tapper, Simon Tapper and Andrew Scott.

Tapper Transport has 110 employees. Its modern fleet carries approximately 90,000 TEUs of import and export containers annually. Its container freight station in Onehunga, Auckland, is Ministry of Agriculture and Forestry-approved and Customs-bonded and is used to unpack approximately 12,000 TEUs of import cargo annually. It is also used to pack approximately 3,000 TEUs of export cargo annually.

For further details, contact:

Mark Cairns
Chief Executive
Port of Tauranga Limited
Ph: 07 572 8829
Mobile: 021 978 887