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ENZA Row Predicted to be Settled this Week

The outgoing chairman of apple exporter ENZA has predicted the row over the repayment of $54 million in losses will be sorted out within a week.

Tony Gibbs has announced today he's stepping down as ENZA's chairman - when a settlement with growers is reached.

ENZA growers are rejecting the company's attempt to reclaim its losses from its payments to growers.

Grower representatives say the parties are still some way off agreement.

National growers' chairman Phil Alison said so far no deal had been reached in the four meetings between the parties.

He said issues such as whether ENZA would stop deducting payments from grower returns for next year's forex losses were still unresolved.

Mr Gibbs will stay on the ENZA board but will spend more time offshore as the New Zealand head of the British-based Guiness Peat Group, which has a 20% share in ENZA.




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