The rapidly growing trend of relocating to Australia received another dose of positive public relations last week when news surfaced that Nuplex Industries Limited, the international resins and specialties group, is considering taking their headquarters and relocating to Australia for tax purposes. It is today situated in Auckland, New Zealand’s biggest city.
Relocation to Australia has surged in popularity in recent years for both businesses and families as the country has continued to hold strong, and even thrive, as the rest of the world economy has trudged along. Many more people are likely to have their interest in moving to Australia peaked as word of Nuplexs decision begins to spread. The company expects to report an after-tax profit of between NZ$ 68 million and NZ$ 75 million for FY2011. Earnings before interest, tax, depreciation and amortization (EBITDA) are expected to be in the range NZ$ 135 million to NZ$ 145 million. Nuplex is incorporated in New Zealand and listed on the New Zealand (NZX) and Australian (ASX) Stock Exchanges.
Said Mr. Emery Severin, Chief Executive of Nuplex: As markets improve, we have the capacity to benefit immediately from growth in Europe, the US and Australia. We can also support growth in Asia from other regions until our expansion plans for China and Vietnam are completed.
The impact of a company with these types of earnings and status mulling relocation to Australia should not be underestimated. The powerful chemical maker, which is now also the largest importer of liquid chocolate in New Zealand, has many powerful friends in the International corporate world as well as nearly 1,750 employees operating in 14 countries, and manufacturing plants in New Zealand, Australia, Europe, Asia and North America.
You can bet both companies and individuals are paying close attention and will keep jumping on the relocation to Australia band wagon as more information about the countrys stable economy, beautiful scenery and high standard of living continues to circulate. This should ensure that the rate of immigration to Australia will continue to climb for the foreseeable future.