Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Industry NZ Funds Ngati Porou Forest Ltd Growth

22 September 2001
Industry NZ Funds Ngati Porou Forest Ltd Growth Plans

Industry New Zealand has helped Ngati Porou Whanui Forests Ltd buy in critical expertise to double forest plantings on marginal Ngati Porou marginal land to 20,000 hecatres.

The Industry New Zealand funding, worth $100,000 and approved under the Business Growth Fund, is to help Ngati Porou Whanui Forests develop business, marketing and strategic plans, financial viability planning, quality management systems, a human resources plan, training systems and an environmental management plan.

“This is exactly the type of investment we want to see companies undertaking,” said Industry New Zealand chief executive Neil Mackay. “Too often we see businesses not doing this groundwork which puts at risk expansion plans and perhaps the viability of the business.

“Through the Business Growth Fund, and the advisory and facilitation work undertaken by its sister unit, the Business Growth Service, we want to help well-established, medium-sized businesses grow in a controlled and sustainable way,” Mr Mackay said.
Business Growth Fund can only be used to buy services, not capital items.
To date the Business Growth Fund has helped 56 companies throughout the country with total funding worth $4.46 million.
Industry New Zealand has also been playing a leading role in the Wood Processing Strategy which currently has much of its focus on the Tairawhiti region where the forest harvest will more than double in the next two-to-three decades.
“All this wood is a great expansion opportunity for regions, such as Tairawhiti, forestry companies, businesses and the national economy,” Mr Mackay said. “What we have got to do is make sure everything is in place – such as training, infrastructure and markets – to make the most of this resource.”
The services Ngati Porou Whanui Forests are buying in will allow it, in conjunction with its joint venture partner Hansol NZ Ltd, to complete the forest cycle and maintain a sustainable forestry regime over a 20-30 year rotation. The Business Growth Fund contribution for this project will be matched dollar for dollar by Ngati Porou Whanui Forests.



More…p2

Over the next 20-30 years Ngati Porou Whanui Forests plans to have 50,000 hectares of Ngati Porou land in commercial forests. The first forests are due to come into production in 13-15 years’ time.

Ends/…
For more information contact:
Mike Booker
Phone: (04) 4956324
E-mail: mike.booker@industrynz.govt.nz

Bryan McKinlay
Ngati Porou Whanui Forests Ltd
Phone: 06 864 8362

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>

ALSO:

Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>

ALSO:

Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>

ALSO:

In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>

ALSO:

Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>

ALSO:

Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>

ALSO: