Forestry biotech firm ArbonGen is to acquire tree improvement businesses of IP, MWV and Rubicon

28-Aug-2007

New Zealand headquartered company Rubicon Limited has informed the NZ market that ArborGen - a US-based company in which it has a one third interest - has announced that it has entered into agreements to acquire the tree improvement businesses of International Paper, Mead Westvaco and Rubicon's own Horizon2 business.

"The acquisition of the United States nursery, orchard and tree improvement operations from IP and MWV, and the acquisition of the equivalent Australasian operations (i.e. the Horizon2 business) from Rubicon, fundamentally repositions ArborGen from a business in development to an established commercial entitiy," remarked Rubicon Chief Executive, Luke Moriarty. "This transaction is positive not just for ArborGen but also fo Horizon2's existing New Zealand and Australian customers."

ArborGen has an extensive trial of loblolly pine varietals planted across the USA. In New Zealand and Australia the company will gain access to a large number of Radiata pine varietals in field trials.

For more details, visit ArborGen's website.