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

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: