Tourism Holdings, the largest provider of holiday rental vehicles in New Zealand and Australia, is to slash 63 jobs in Hamilton.
The redundancies will result from a joint venture with campervan and motorhome designer and manufacturer Kea.
Tourism
Holdings, whose brands include Maui, Britz, Backpacker and Explore
More, said in a statement to the NZX on Tuesday it will undertake a
50/50 partnership with Kea called RV Manufacturing Group LP.
The
63 redundancies among its 127 Hamilton-based employees will occur when
Kea's Auckland manufacturing plant is relocated to the region.
Tourism Holdings will also sell its specialist body work business into the JV.
The transaction will see $7.5 million in assets transferred from Christchurch-based Tourism Holdings to the new company.
Further details of the transaction will be released in Tourism Holdings' first-half results on Thursday.
NZN