Horticultural joint venture by Feltex

Press, 28 March 1981, Page 21

Horticultural joint venture by Feltex

PA Wellington The establishment of a new $3 million joint-venture horticulture- company has been announced by Feltex New Zealand, Ltd, and the New Plymouth-based companies, Duncan and Davies, Ltd, Moller Holdings, Ltd, and New Zealand Nurseries, Ltd.

The new company will be know, as New Zealand Nurseri s Holdings, Ltd, and will develop the existing substantial tree and shrub business of Duncan and Davies and New Zealand Nurseries.

“Through our strategic planning investigations we had ascertained the tremendous potential which exists for

this sort of venture, and to link with the already established export markets of New Zealand Nurseries provides an excellent starting platform.” said Feltex’s managing director, Mr Harold Titter. "The new company will utilise the expertise in plant production of the well established New Plymouth family company, Duncan and Davies, and this will be a bonus for it.” Moller Holdings joined with Duncan and Davies three years ago as the first stage of a planned expansion. “New Zealand Nurseries has been an extremely successful exporter of trees and

shrubs,” said the chairman of New Zealand Nurseries, Mr Norton Moller. “We have established the potential that exists in overseas markets, but have not been able to fully expand and realise on this export potential. Ornamental trees and shrubs are being exported to Europe, North America (particularly California), the Far East, and South-East Asia. It is an exciting new scheme, with the possibility to expand markets through overseas joint ventures.” The venture is subject' to the approval of the Examiner of Commercial Practices.