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October 1, 2003
We are
pleased to advise the completion of the sale of Yates Vegetable
Seeds (YVS) distribution business to South Pacific Seeds Pty Ltd
(SPS) and the research and plant breeding business to
Enza Zaden B.V.
(see
http://www.seedquest.com/News/releases/2003/august/6430.htm)
Effective from
30th September 2003 the former YVS will trade as
Terranova Seeds Pty
Limited in Australia and Terranova
Seeds Limited in New Zealand. The Webling & Stewart Seeds NZ
name will not change.
These companies
will be managed as distinctly separate businesses reporting to a
separate board of directors and will continue to be a
competitor to SPS. In NZ Terranova Seeds and Webling & Stewart
will also continue to operate as competitors.
Enza Zaden
Australia has been set up to manage the acquisition of the
research and plant breeding operations in Narromine NSW
Australia and Pukekohe NZ.
Terranova Seeds
will continue to exclusively market the products from the former
YVS breeding programs in Australia and NZ. Enza Zaden NL will
market these products to the export customers. Terranova Seeds
will continue to market commodity products to some export
customers.
The Australian
address of Terranova Seeds remains the same but in NZ the new PO
Box number is 3023 Auckland NZ. We will advise you shortly of
the banking details for direct crediting your payments.
We are very
excited to be launching a new company, with the same
professional staff, supported by quality seed suppliers, and a
new owner who is committed to the commercial vegetable seed
industry.
We thank you
for your continued support as we move forward into the next
exciting phase of growth and development.
Warrick
Chudleigh |
