21 Dec 2010

Skellerup replaces Pike River Coal on NZX50

5:00 pm on 21 December 2010

Listed plastics maker Skellerup has replaced Pike River Coal on the New Zealand stockmarket's top 50 index.

Pike River Coal was removed from the market after being put into receivership on 13 December. A series of explosions at its mine on the West Coast starting on 19 November, killing 29 men.

The change is the second to the index this year. DNZ Property Fund replaced Farming Systems Uruguay in August, after the latter was taken over by Olam International of Singapore.

Skellerup, which began in 1910, selling tyres and rubber goods to the dairy industry, was first listed in 1948. It now employs more than 800 people in New Zealand, Australia, Britain, the United States and China.