13 Aug 2010

Export company reduces margin

8:58 am on 13 August 2010

A Waikato company which has been hit by the volatility in international markets and currencies, says it is reducing its margins to maintain exports.

Business New Zealand's monthly manufacturing survey for July fell 6 points after 10 months of expansion.

Waikato Milking Systems feels the ripple effects from weaknesses in the dollar and euro.

Seneral manager Dean Bell says it's reducing its margins to maintain its market position.

Although its future is bright, he says the company is not taking on new employees.

But Extracts New Zealand Limited, which extracts natural plant compounds for health food, says it has bucked the trend. Chairman Bill Bracks says it probably will be recruiting.