Kiwifruit International Limited
Registered Office Address
9 Hopetoun Street
Ponsonby
Auckland
Directors
FALCONER, William John
HENRY, Eric Vernon
ARMSTRONG, Brian
History
Incorporated: 05-JAN-1999
Kiwifruit International was established to provide funding and to
underwrite the business risk on Zespri International's procurement
and marketing of offshore kiwifruit and produce. As well as
funding a supply of kiwifruit from overseas growers for year-round
marketing, the company will pay to develop the yellow fleshed
Zespri Gold fruit.
Major Shareholders
Website
News
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19 June 2002 - NZUM
Following disappointing non-New Zealand kiwifruit sales Kiwifruit International is to
underwrite a $140,000 loss for Zespri. Sufficient Italian grown Kiwifruit weren't available,
which made providing a year round fruit supply difficult.
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June 2000 - NZUM
Kiwifruit International posted a profit of nearly $100,000 in its first year of operation,
this result was surprisingly better than the forecasted deficit of $225,000.
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December 1999 - NZUM
After kiwifruit growers had taken up their allocations and the board had retained some
treaury stock, 180,000 shares were offered to the public at $1 per share.
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1999 - NZUM
Over 1700 kiwifruit growers elected to take up nearly 4 million shares in Kiwifruit
International Ltd, representing more than 75% of those offered.
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12 July 1999 - Government Press Release
GOVERNMENT AGREES TO KIWIFRUIT INDUSTRY RESTRUCTURING PLAN
Cabinet today agreed in principle to kiwifruit industry corporatisation plans for greater
grower control to improve sector performance in the 21st century.Food and Fibre Minister John
Luxton and Finance Minister Sir William Birch announced Cabinet's decision this afternoon.
They said the package would give kiwifruit growers the opportunity to become shareholders in
Zespri, which would hold all of the Board's commercial assets.
The proposal resulted from a constructive process of consultation between kiwifruit industry
leaders and Ministers since the industry put its initial plan to the Government late last
year. Industry leaders would now put the proposal to growers at 10 meetings in all the major
growing regions this week, aiming to have the new structure operating by the start of the
next financial year on 1 April 2000. To facilitate that objective, the Government had
prepared legislation for introduction into Parliament on Tuesday next week. The aim was to
pass the bill by early September, and promulgate the necessary new regulations during
October, they said.
Mr Doug Voss, chairman of Kiwifruit New Zealand, in a letter to growers, says: "We are
presenting you with a simple and commercially robust solution. It follows the momentum
already set in commercialising the industry. "Now it is time for us to unite under one
corporate banner, and move on into the future, to grow wealth and prosperity for shareholders
and for New Zealand. I look forward to working with you to build this industry to new heights
and new successes."
The Ministers said that, under the proposal, Kiwifruit New Zealand, the industry's board,
would be re-established to undertake the regulatory, oversight and monitoring roles.
Grower Shareholding
From 1 April, 2000, Zespri would own all industry assets and brands. Zespri, as the
commercial business, would have a normal company structure. Shares would be issued to all
kiwifruit growers, and would be freely tradeable among growers.
Its functions would include export marketing, acquisition, grading, quality, pricing and
commercial research. The Board would monitor Zespri, and approve other players to do
collaborative marketing with Zespri. The purchase of fruit would be governed by commercial
contracts with growers. Payments to growers would be "unbundled" to separate the price paid
for fruit from the payment of dividends resulting from the other commercial activities of
Zespri.
The Ministers said that industry leaders and the Government both regarded it as a fundamental
step forward for the industry that growers would now own and control the business, hold
shares in it, and be able to trade them freely with other growers. Some compromise had been
required of both the Government and the industry to reach an agreement acceptable to both
parties. The Government had, for example, conceded a continuation without a sunset clause of
a single kiwifruit marketing desk. At the same time, however, the greatly improved
organisation of the industry, the company structure of Zespri and direct shareholding by
growers as the owners and controllers of the company would produce much better commercial
results, they said.
Trading in overseas-sourced fruit, as distinct from New Zealand fruit, would be handled by a
separate company, Kiwifruit International. Shareholding in that company would be voluntary.
"I strongly encourage all kiwifruit growers to attend the grower forums which the industry
will hold in their regions this week. This is a very strong package which needs grower
understanding, and deserves grower support."
The Ministers said the proposed legislation involved a short bill of about 25 clauses to
empower the restructuring plan and provide regulation-making powers. The legislation would be
referred to a Select Committee for hearings during August. "The main changes will be
implemented by regulations which are now in preparation. The single-desk will for example,
continue to be embodied in regulations," they said. "It is important for the Board to
understand and take account of the views of Maori stakeholders. I intend, with Maori Affairs
Minister Tau Henare, to meet Maori stakeholders for the same purpose as soon as possible.
"From the Government's point of view, our overriding objective is to promote enhanced
economic performance in the sector, and ensure that resources are used as efficiently as
possible. This package provides a strong platform for the future."
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