News

Tuaropaki Trust buying NZ drilling firm MB Century

MB Century drilling rig on site in Taupo, NZ (source: MB Century)
Alexander Richter 17 Mar 2015

Maori Trust Tuaropaki is in final discussions on an acquisition of New Zealand's leading geothermal drilling and field development company MB Century.

Reported locally, the Tuaropaki Trust has announced it is in the final stage of buying energy services company MB Century.

The Trust – so the news piece – “manages lands and investments for the longterm benefit of its owners and their descendents from the north-west of Taupo (New Zealand).”

Tuaropaki also runs geothermal electricity generation in New Zealand, as well as using geothermal resources for dairy processing at Mokai.

The Trust sees the acquisition of MB Century as an opportunity.

MB Century is New Zealand’s leading specialist in geothermal well drilling, field development and geothermal power station and steam field maintenance.

In the news, Tuaropaki CEO Steve Murray said that there has been a long time cooperation and that they know the business well, feeling that there complementing interests.

The Trust sees “potential to grow the business, particularly offshore where the company’s extensive experience and intellectual property in geothermal energy development could be highly valuable.”

 

Source: Taupo Times via PressReader