The company says it is "reassured" by 35% shareholder Guinness Peat Group's announcement it plans an orderly realisation of all its assets with the possible exception of Coats.

"It is reassuring that (Friday's) announcement confirms that GPG's value realisation will be undertaken in an orderly manner and over a time frame appropriate to each investment," Tower chairman and former GPG executive director Tony Gibbs says in a statement.

Tower's board has offered GPG its assistance and says it has "every confidence" Tower's management and strategic direction "will be unaffected by whatever steps GPG may take and that the process can be undertaken in a manner which safeguards shareholder value," the statement says.

Gibbs is overseas and unavailable but Tower managing director Rob Flannagan says neither he nor Gibbs, who has been based in Tower's Auckland office since he was sacked from GPG last June, have had any contact with GPG.

"In many ways it's almost got nothing to do with us," Flannagan says. "They haven't spoken directly to us at all."

GPG also owns 66% of fruit and veg distributor and apple exporter Turners & Growers of which Gibbs is also chairman.

Gibbs was sacked from GPG after he publicly disagreed with a previous plan to split GPG in two, siding with a groundswell of protest from local investors who eventually forced GPG to appoint four independent directors who outnumber the remaining three directors.