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

 

Waipareira Trust Invests in ICP Biotechnology

Waipareira Trust Invests in ICP Biotechnology

John Tamihere, CEO of the Waitakere based Waipareira Trust, announced today that the Trust has made an initial investment in ICP Biotechnology Limited (NZX:BIO) also based in Waitakere City – in Waipareira Avenue.

“We see this as a strategic investment for the Waipareira Trust as biotechnology is one of the keys to New Zealand’s future growth, as recognised by the Government’s Growth and Innovation Framework.

We are also keen on the employment opportunities it secures for our science graduates in Waitakere and the opportunity to introduce our young people to the excitement of biotechnology and science in general.

During our due diligence we have established a good understanding of the business and like the fact that this is one of the few listed biotechnology companies which makes and sells product for the global biotech and pharmaceutical companies.

We also like the fact that the company’s protein biologicals business adds significant value to the New Zealand agricultural industry.

ICP Biotechnology high-tech products are virtually 100% exported, which is also good for the country’s overseas earnings, and science and technology profile.

The company has over the last 18 months attracted nearly $1m in government grants in recognition of its product development and marketing efforts.

The Waipareira Trust is looking forward to working more closely with ICP Biotechnology over the next few years and contributing to each others success.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Air New Zealand: Flying Year-round To Popular Queensland Destinations

Air New Zealand is moving to year-round direct flights on its Auckland-Cairns, Auckland-Sunshine Coast and Christchurch-Gold Coast routes under an agreement with the Queensland Government... More>>




SEA: Another First For Solar Energy In New Zealand

The Sustainable Energy Association NZ (SEANZ) congratulates Sunergise on the commissioning of the Sunergise Kapuni Solar Power Plant, the largest in the country... More>>

Accenture: More Boomers Than Zoomers Want To Work From Home

While often associated with tech savvy Gen Z or Zoomers, new global research from Accenture shows that the push for more flexible working environments is being led by Gen Xers and Baby Boomers... More>>

Banking: Westpac New Zealand To Remain Part Of Westpac Group

Westpac New Zealand Limited (WNZL) remains part of Westpac Group following a decision for the two businesses not to demerge. Westpac Group Chief Executive Officer, Peter King, said: “After a detailed review, we believe a demerger of the WNZL business would not be in the best interests of shareholders... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>