Transpacific losses due to struggling NZ and manufacturing divisions

Waste management firm Transpacific Industries Group (TPI) expects to report a full year net loss of $177 million to $209 million, after write downs on the value of its New Zealand operations and manufacturing divisions. 

Most of the write downs are on the goodwill of TPI’s New Zealand division, reflecting difficulties facing the local economy, especially those caused by natural disasters.

Another $40 million in write downs are related to the restructuring of TPI's manufacturing operations. All goodwill related to past acquisitions of manufacturing businesses will be written off.

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