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Industry NZ Funds Ngati Porou Forest Ltd Growth

Published: Mon 24 Sep 2001 07:56 AM
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.
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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

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