Receivers keep high tech firm alive
PA Auckland The troubled high technology company, Anae, which was placed in receivership late last year, will keep trading in the short term, and fill some export orders, the receiver, Mr Bryan Kensington, has said.
“The receivers are continuing the business and making up contracts. We do not discount the fact that now we have a reasonably tidy operation," Mr Kensington said.
"We are making progress and are completing most of the export orders, though some are more technically difficult than others."
There was a hope of salvaging parts of the business, and work would continue until June when progress would be reassessed, he said. Staff numbers at the
Mount Albert premises had been cut from 108 to 38. The Bank of New Zealand, which holds the first debenture over the company's asseKensington and another Auckland accountant, Mr David Mace, as receivers.
When the firm was placed in receivership in early December, Mr Kensington was appointed receiver by the Marac Corporation, which jointly held the second debenture with the Development Finance Corporation. Started by a small group of University of Auckland Physicists and other scientists in the mid-19605, Anae carved itself a niche in the highly competitive technology world of ion beam science.
The company opened offices in the United States and Switzerland, and had developed a specialised mar-
ket supplying sophisticated computerised scientific and production monitoring equipment to universities hnd industry in the United States. The isolation of New. Zealand and the world recession in the electronics industry, especially in the relatively closed education-science market, have been partly blamed for the company's failure by some industry sources.
Last year’s Department of Scientific and Industrial Research discussion paper on the future of the electronics industry in New Zealand, cited Anae as an example of what New Zealand industry could achieve.
The study listed Anae as a company exporting more than SIM worth of equipment a year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19830219.2.106.18
Bibliographic details
Press, 19 February 1983, Page 19
Word Count
322Receivers keep high tech firm alive Press, 19 February 1983, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.