Waitaki bioscience purchase

Press, 9 October 1987, Page 17

Waitaki bioscience purchase

The Christchurch-based Waitaki International is to expand its bioscience division through the purchase of Canadian-based CP Biochemicals for an undisclosed sum. CP Biochemicals is the bioscience division of Canada’s largest meat processing company Canada Packers. The managing director of Waitaki International, Mr Athol Hutton, said yesterday that CP Biochemicals specialised in making products from animal deriva-

tives. These products include health foods, pharmaceuticals and cosmetics. He said CP Biochemicals would complement Waitaki’s existing bioscience Waitaki International Biosciences operations at Christchurch and Nelson. Waitaki International Biosciences was formerly Phoenix Chemicals. Mr Hutton said Waitaki would now have a world-wide bioscience operation through CP’s international marketing

machine, process and raw material base and research and development arm. CP has a staff of 40, the majority of whom are scientists. Mr Hutton said that with the purchase of CP, Waitaki would become one of only two or three companies in the world applying bioscience to produce goods from animal derivatives. He said the demand fot the products was high in Japan, China and the

United States, where consumers were “natural foods conscious.” The new business wjll trade under the name Waitaki International Biosciences and continue operating from its premises in Toronto. Mr Hutton said the new technologies developed by Waitaki in New . Zealand would enhance the Canadian operation. “The only difference with the products is that theirs are based on beef and pork and ours are based on lamb,” he said.