National turns Solid Energy into basket-case

Press Release – New Zealand Labour Party

Nationals epic mismanagement has turned Solid Energy from an export award-winning company into a complete basket-case, says Labours SOEs spokesperson Clayton Cosgrove.Clayton
COSGROVE
Spokesperson for SOEs
21 February 2013 MEDIA STATEMENT
National turns Solid Energy into basket-case

National’s epic mismanagement has turned Solid Energy from an export award-winning company into a complete basket-case, says Labour’s SOEs spokesperson Clayton Cosgrove.

“National has run Solid Energy into the ground. Four years ago it was a profitable business, now it’s a train wreck. This is National’s mismanagement. John Key is supposed to be an business guru but National can’t run an economy and they’ve proved they can’t run a business.

“Solid Energy appears on the verge of collapse. This must be the first time any Government has overseen such a massive failure in a state owned asset.

“Their obsession with selling off state assets forced the company into cutting jobs and investment so it could be spruced up for investors.

“This was once the jewel in the crown of SOEs, now it’s a mess. This Government has a huge amount to answer for. The big loser? Yet again, the taxpayer.

“Bill English and Tony Ryall need to step in and develop a plan to get Solid Energy back in business,” says Clayton Cosgrove.

ENDS

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