Trans-Tasman forest research deal strengthens global capability

[Joint statement with Hon Peter McGauran, Australian Government Minister for Science]

Minister for Research, Science and Technology Pete Hodgson and the Australian Government's Minister for Science, Hon. Peter McGauran, are pleased to announce today the formation of a major joint venture in trans-Tasman forest industry research and development.

This joint venture will significantly boost Australia and New Zealand’s ability to compete for a greater share of the global forest research and development market.

Australia’s CSIRO Forestry and Forest Products and New Zealand’s Forest Research have agreed to establish this important partnership focused on providing R&D, services and technical solutions for the plantation forestry and related processing industries.

The agreement is conditional on the finalisation of legal documentation.

“The joint venture will enhance the ability of both nations’ economically significant forestry industries to develop world-class products and services," said Ministers McGauran and Hodgson. "The partnership will make the most of the R&D investment similarities that currently exist between the operations of CSIRO and Forest Research.”

It will also deliver greater efficiencies in the use of government funding for scientific research, essential to underpinning domestic industrial growth.

“The timing of the deal is regarded by both governments as crucial, particularly given the rapid rate at which the world forestry and forest products industry is consolidating and globalising through mergers and acquisitions,” the Ministers said.

The new joint venture will be well positioned to engage forestry and forest products industries overseas as a strategic R&D partner of choice.

The aim is to develop an internationally competitive cutting-edge research organisation that will benefit regional industries here in New Zealand and in Australia.

“In creating a business of real depth, breadth and scale, the joint venture will provide enhanced research capabilities to all its customers and partners. At the same time, it will allow these two world leading science organisations to broaden and deepen their relationships with existing and potential customers through a single point of contact,” the Ministers said.

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