New Zealand’s sole manufacturer of respirators and surgical masks is now available for sale, with an auction starting at just $1 on Trade Me.
Former Prime Minister Jacinda Ardern visited the factory during the COVID-19 pandemic and commended its efforts; however, at that time, the factory struggled to meet the extraordinary demand.
The company was acquired earlier this year by 23-year-old Andre Taylor for $88,000.
According to Taylor, the company was valued at $2.2 million on paper but had been in a state of “hibernation” since its last contract, which involved supplying 17 million masks to Health NZ for a year.
He said he initially acquired the company to “see what could be done with this incredible capability.”.
“Naively thinking I would get support from the government to keep this essential business in New Zealand.”
“I’m 23 years old and have exhausted all funding options to the point my dad was prepared to sell his house. But this seemed like good money following bad money. And now the money burn has gotten unbearable,” he added.
The company was sitting in a leased facility in Whanganui with five primary machines: two for level two and three ear loop surgical masks, valued at $146,000, and three N95 duckbill respirator machines worth $345,000. Currently, the inventory consists of 72,000 boxes of masks and respirators, with similar products listed on Trade Me at $9 per box.
Andre Taylor stated that if the auction exceeds $70,000, all funds raised beyond that amount will be donated to charity.
The government is now acquiring respirators and masks from China.