CVT
10/11/2014 14:46
JOINTV
REL: 1446 HRS Comvita Limited
JOINTV: CVT: Comvita and East Taupo Lands Trust Announce Joint Venture
Global natural health products company Comvita (NZX:CVT) and East Taupo Lands
Trust (ETLT), a registered Maori authority of Ngati T?wharatoa, announce
today the signing of a new joint venture Limited Partnership, Kaimanawa Honey
GP Limited.
Kaimanawa Honey will have beekeeping operations to harvest Manuka honey from
the vast land holdings owned by ETLT. Starting with 3,000 hives placed on
ETLT land for the coming honey season, with sites already identified and
ready to be populated, the venture will look to expand in coming years.
Comvita will provide the beekeeping equipment and management systems required
for running large scale beekeeping operations and ETLT will lease the land
sites to the joint venture. Together the partners will further develop the
land resource and beekeeping techniques, unique to the South Taupo region,
with the aim to optimise Manuka honey production.
Comvita CEO Brett Hewlett said, "This new joint venture combines the
abundance of the natural resources in the South Taupo region provided by ETLT
with Comvita's marketing capabilities and forty years of international
branding experience. This is a real milestone event for the evolving
relationships between Comvita and Iwi landowners. Together we can grow,
sustainably, and together we share in the value created."
ETLT Chairman Jim Maniapoto said, "It is not so long ago that Manuka trees on
Maori land blocks were being cut down for firewood. Today we recognise the
value of Manuka and the initiatives offered by Comvita. ETLT have vast
resources and Comvita has expertise and access to world markets. We
acknowledge this partnership and the development of Kaimanawa Honey GP
Limited will realise education and income opportunities for New Zealanders.
The export opportunities offer exciting prospects for the future."
Mr. Hewlett said, "We are privileged to establish this long term relationship
with ETLT and are looking forward to working together."
# Ends #
For further information:
Comvita CEO, Brett Hewlett, 021 740 160
Comvita Chairman, Neil Craig, 021 731 509
Comvita Communications Manager, Julie Chadwick, 021 510 693
East Taupo Lands Trust Trustee, Tom Walters, 027 533 1007
Background information
About Comvita (www.comvita.com)
Comvita (NZX:CVT) is a global natural health company committed to the
development of innovative products, backed by ongoing investment in
scientific research. We are the world leaders in Manuka (leptospermum) honey
and fresh-picked Olive Leaf Extract, which are at the core of the Comvita
product range.
We have approximately 50% of honey supply under direct ownership or control,
with the balance of supply from long term contractual and partnership
arrangements. Comvita pioneered the development and use of medical grade
Manuka honey and was the first to receive FDA approval (2007). We partner
with US wound care company Derma Sciences, Inc. (NASDAQ:DSCI), the global
licensee for Medihoney specialist wound care products, which are used in
hospitals and medical centres around the world. Comvita's freshly picked
Olive Leaf Extract is grown, harvested, extracted and bottled at the world's
largest specialised olive leaf grove, with over one million olive trees.
Comvita sells into more than 18 countries through a network of our own
branded retail locations, online (nine country specific e-commerce websites)
and third-party outlets. We have over 450 staff located in New Zealand,
Australia, Hong Kong, Japan, Taiwan, South Korea, the United Kingdom and the
USA.
About East Taupo Lands Trust (www.easttaupolands.co.nz)
The East Taupo Lands Trust controls 30,270 hectares of land to the south east
of Taupo. The majority of this land is subject to an Air Access Licence for
Hunting and Fishing. The Trust also owns Tamamutu House in the Turangi town
centre, and has substantial investments which are managed by JBWere. The
East Taupo Lands Trust Charitable Trust is run in conjunction with this
Trust. All grants are made through the Charitable Trust, which are funded
from monies received from the East Taupo Lands Trust.
East Taupo Lands Trust Charitable Trust provides education grants to students
who are actively engaged in study with a New Zealand approval NZQA institute,
whether it be University, Polytechnic, Technic Institute, Community College,
Wananga, or involved in Vocational Training.
End CA:00257440 For:CVT Type:JOINTV Time:2014-11-10 14:46:09
