Todd Corporation
| Todd Corporation | |
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Formerly called
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| Limited company | |
| Industry | Conglomerate |
| Predecessors | Todd. Bros. Limited |
| Founded | 1884 in Heriot, Otago, New Zealand |
| Founder | Charles Todd Snr. |
| Headquarters | Todd Building, Wellington, New Zealand |
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Area served
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Key people
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Geoff Ricketts (Chairman of Todd Corporation) |
| Total equity |  $1 billion [4] (2001) |
| Owner | Todd Family (~80%) |
| Divisions |
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| Subsidiaries |
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The Todd Corporation Ltd is a New Zealand company owned and controlled by the Todd family and based in Wellington. Forbes magazine estimated it to be worth at least $1 billion in 2001.[6] Sir John Todd was chairman from 1987 until he retired in 2011.[7][8] He succeeded his uncle Sir Bryan Todd[9] when Sir Bryan died.
Contents
History
The history of Todd Corporation is understood to have begun in 1885, when Scottish immigrant Charles Todd founded & opened either a wool scoring business (according to Todd Energy) or a rural goods store in Central Otago. By 1929, it had evolved into a car sales and maintenance business run by his son and namesake Charles Todd after the company began importing motor vehicles.
This automotive business would define the Todd family business until well into the 1980s. Charles Todd was credited with bringing the first motor car into Otago and in 1908 acquired a Ford dealership in Dunedin then in 1928 acquired the Rootes Group franchise for Hillman, Humber and Commer and obtained an Auckland branch.
During the protectionist years of the 1930s the Todd family formed Todd Motor Industries Limited and in 1934 built an automotive assembly plant in Petone to reassemble vehicles imported as parts from Chrysler (USA) and Rootes. According to the Todd Energy website by 1964, Todd Motors was assembling and selling over 10,000 cars per year. In 1970 the company purchased the New Zealand Mitsubishi franchise. This franchise and assembly plants were sold to Mitsubishi Motors in 1987.
The Todd family also founded Europa an oil importing and retail business that owned terminal services at four major ports and a chain of petrol stations across New Zealand. According to the Todd Energy website, this business was founded during disruptions in the petrol industry in 1929. Europa was originally named 'Associated Motorists Petrol Company Limited' (AMPC) and was formed in 1931. The company imported petrol from the Soviet Union from 1933, and was supported by the New Zealand Farmers' Union and various regional Automobile Associations. Because of price under-cutting by overseas oil companies, the government introduced price regulation of petrol from 1933.[10]
According to Todd Energy, Europa was the first to offer electric petrol pumps in New Zealand, the first to use articulated road tankers for fuel distribution and the first chain to operate service station convenience stores.
The Todd family also developed interests in the prospecting for, extraction of and refining of petroleum products. In 1954 they acquired prospecting licenses around New Zealand and developed joint venture agreements with Shell Oil New Zealand Limited and BP New Zealand. The discovery of the Kapuni gas and condensate field in 1959 meant that the Todd family together with Shell and BP became major players in the New Zealand petroleum production business.
Later discoveries in the famous Maui gas field meant the Todd family was intimately involved in supplying a majority of New Zealand's LPG and CNG natural gas for energy generation as well as fuel for the transport industry. Together with Shell, BP and the Government-owned Petrocorp began production in 1980.
In 1972 BP New Zealand took a 60 percent interest in Europa, purchasing the company’s marketing and refining interests including the Europa petrol stations. The two retail brands continued to operate independently, however in 1989 they were brought under the BP brand.[11]
Todd continued its involvement in the exploration and production businesses.
When sold to Mitsubishi in 1987, Todd Motors was assembling a wide range of cars, and light and heavy commercial vehicles. During the 1980s the Company held the number two market share position in the New Zealand automobile industry. The sale bought the Todd family's involvement in the New Zealand automotive industry to a close.
Investments
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Todd Corporations are currently maintained under two distinct branches. Todd Energy continues the Todd family's involvement in the energy industry. Todd Capital, formed after the sale of the automotive industry, focuses on media and communications business but has some other significant investments.
According to the Todd Capital website the capital side of the business owns the following investments.[12] subsequent purchase of an interest in and then its purchase of Sky Television.
- A 14.8% shareholding in Crown Castle Australia Pty Limited ("CCA"). [1]
- A 100% shareholding in Landco Limited, Landco website
- A 17.0% shareholding in Woosh Wireless Limited. Woosh website
Previous investments
- A 35.0% shareholding in Metlifecare Limited, Todd Capital sold its entire shareholding in November 2005.
- A 14.2% shareholding in Independent Newspapers Limited (INL)
- A 25.0% shareholding in Clear Communications
- A 20.0% shareholding in AAPT Limited,
- A 21.0% shareholding in UtiliCorp NZ Inc
- An interest in Sky Network Television ("Sky") a pay television operator - This shareholding is a result of its purchase of an ownership interest in Sky Television in 1990 soon after its founding and its subsequent sale, followed by the company's purchase of shares in Independent Newspapers and INL's
Todd Energy
| File:ToddEnergyLogo.png | |
| Private | |
| Industry | Oil Production Natural gas wholesaling LPG wholesaling |
| Founded | 1929[13] |
| Headquarters | Wellington, New Zealand |
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Key people
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Paul Moore, CEO |
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Number of employees
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450 |
| Parent | Todd Corporation |
| Divisions | Todd Energy Canada Ltd (TEC) [14] |
| Subsidiaries | Nova Energy |
| Website | www.toddenergy.co.nz |
Todd Energy is a diversified energy company based in New Zealand. Todd Energy is part of the Todd Corporation. Company offices are in Wellington, New Plymouth, Perth and Calgary. Net production is approximately 25,000 BOEPD, and by 2015 Todd Energy expects to provide 35% of gas and 25% of oil production in New Zealand.[15]
Todd Energy has interests in several producing fields in New Zealand, including Maui (6.25%), Kapuni (50%), McKee (100%), Mangahewa (100%), Maari (16%)[16] and Pohokura (26%).[17] Todd also has interests in 10 exploration permits, 5 of which are operated.
Todd has a 50% stake in Shell Todd Oil Services.[18]
Retail brands include Auckland Gas.
Nova Energy
| Private | |
| Industry | Electricity generation Electricity retailing Natural gas retailing LPG retailing |
| Headquarters | Wellington, New Zealand |
| Parent | Todd Energy |
| Website | www |
Nova Energy generates electricity and retails electricity, natural gas, LPG and solar systems in New Zealand. Generation assets include hydro, geothermal and gas fired cogeneration plants.[17]
| Name | Fuel | Type | Location | Maximum Capacity (MW) |
Annual Generation (GWh average) |
Commissioned | Notes |
|---|---|---|---|---|---|---|---|
| Edgecumbe | natural gas | cogeneration | 10 | ||||
| Kapuni | natural gas | cogeneration | south Taranaki | 22 | 50% interest | ||
| Kuratau | Hydroelectric | Waikato | 6 | 30 | 1962 | 35% interest | |
| McKee | natural gas | open cycle | Taranaki | 102 | 2013 | ||
| Mokauiti | hydroelectric | Waikato | 1.925 | 7 | 1963 | 35% interest | |
| Piriaka | Hydroelectric | Waikato | 1.8 | 7 | 1924 (expanded 1971) | 35% interest | |
| Whareroa | natural gas | cogeneration | Hawera | 70 | 400 | 1996 | 50% interest |
| Wairere | hydroelectric | Waikato | 18 | 1925 (extended 1938 and 1981) | 35% interest |
Subsidiary companies
Bay of Plenty Energy was a wholly owned subsidiary and changed its name to Nova Energy in 2012.[19]
King Country Energy
King Country Energy is an electricity generation and distribution company in New Zealand, supplying the Waitomo, King Country and Ruapehu Districts. It generates 100% of its electricity from renewable sources (principally hydro-electric generation). King Country Energy was incorporated in 1991. It is a public company, the largest shareholders being Nova Energy (54%) and King Country Electric Power Trust (14%).[20]
Crest Energy
Crest Energy is the developer of the Kaipara Tidal Power Station.
Developments
KCE sought to develop a 9.6 MW hydroelectric power station on the Mokau River, approximately 4.3 km downstream from the Wairere Falls dam. In 2006, application to Environment Waikato for resource consents was declined.[21]
Nova Energy has been granted resource consents to construct a 100MW gas fired peaking plant about 7 km south of New Plymouth.[22][23]
References
- ↑ https://www.business.govt.nz/companies/app/ui/pages/companies/3491#
- ↑ 2.0 2.1 2.2 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ https://www.business.govt.nz/companies/app/service/services/documents/FB3E2362A6FA3B459FAD8E10EE16EA23
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ http://www.toddcorporation.com/content/todd-increases-shareholding-rutila
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- ↑ http://www.toddenergy.co.nz/about/history/
- ↑ http://www.toddenergy.co.nz/about/news/todd-energy-canada-investment/
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
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