Rubicon Ltd. - 500 Beiträge pro Seite

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ANGEBLICH Marktführer für genetisch modifiziertes Saatgut für Bäume;

Idee von Edison

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Antwort auf Beitrag Nr.: 58.658.802 von R-BgO am 10.09.18 10:23:06

Haupt-Hoffnungsträger ist ArborGen,

inzwischen 100%-Tochter;


Int’l Paper, WestRock sell stakes in South Carolina tree-breeding firm they helped plant
By Thad Moore [e-mail], Jul 3, 2017
https://www.postandcourier.com/business/int-l-paper-westrock…

Ridgeville-based ArborGen, which develops new varieties of trees like these cloned eucalyptus saplings, now belongs fully to Rubicon Ltd., a New Zealand company that was one of its founding partners. International Paper and WestRock, which also helped create the company, sold their shares last week.

Just after the turn of the century, three paper-making giants decided to pool their forestry research teams and set up a biotechnology firm in the Lowcountry, tasking it with developing new varieties of fast-growing trees.

Seventeen years later, two of the founding partners are out, deciding last week to cut Ridgeville-based ArborGen from their portfolios.

International Paper and WestRock closed a deal Thursday to sell their roughly two-thirds stake in the Dorchester County company for $29 million, handing full ownership to New Zealand-based Rubicon Ltd., the descendant of a onetime corporate behemoth on the island nation.

ArborGen has become a prominent player in the business of breeding fast-growing tree varieties and selling them to timber companies in hopes of shaving a few years off a forest’s life cycle. The company produces about 350 million saplings a year, mostly pine trees grown in 15 nurseries on three continents, and it now employs 160 workers globally.

International Paper and WestRock didn’t respond to requests for comment Monday. Rubicon chairman Steve Kasnet said in a statement that the companies are no longer as interested in forestry research as they once were.

“Much has changed with our partners in terms of their own strategic agendas, which has now delivered this acquisition opportunity for us,” he said. “We fully understand that ArborGen is no longer within each of their core mandates.”

Kasnet added that the Ridgeville firm’s “strategic positioning and operational execution are second to none.”

ArborGen appears to begun turning a profit, but the three partners were still contributing millions of dollars each year to fund its operations, financial disclosures show. In a report to investors last year, Rubicon said that while the company’s operations were in the black, it was “not currently self funding.” Rubicon said it had poured $91 million into the company, including $4 million last year.

ArborGen earned $3 million in profits last year on $37 million in revenue, according to a disclosure filed with New Zealand regulators.

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Antwort auf Beitrag Nr.: 58.943.283 von R-BgO am 12.10.18 14:53:33

https://www.nbr.co.nz/article/rubicon-pays-bargain-price-arb…

"Rubicon says it got a bargain with the $US29 million price to buy out partners in ArborGen after refusing to waive provisions that would have allowed its former co-investors to run a formal sales process for their stakes in the biotech seedling firm.

In June, the NZX-listed forestry investor took full ownership of ArborGen, agreeing to pay International Paper and WestRock in a deal that placed a fair value of $US124 million on the seedling firm. Rubicon's annual report, released after trading closed on Friday, shows the deal resulted in a "bargain purchase gain" of $US51 million and that the purchase price didn't reflect fair value because there wasn't an orderly sales process."

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