Overseas investment decision for case 200610049 - Ambreed N.Z. Limited

1. an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area; and
2. an interest in land which, either alone or together with any associated land, exceeds 0.2 hectares and adjoins the foreshore.

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Ambreed NZ. Limited (Ambreed) carries on business in New Zealand as a dairy semen production and sales business. Ambreed owns a 133.55 hectare property at Kiwitahi Station Road, Morrinsville which is currently used for the housing of bulls while semen is undergoing testing. The Applicant proposes to relocate the facility situated at Kiwitahi Station Road, Morrinsville by selling that property and acquiring the subject property. The subject property is better suited for segregating bulls away from other dairy animals in order to prevent IBR virus infection. Ambreed advises that the European Union has required semen sold for use in the European Union be IBR free for New Zealand origin semen since 1 January 2005.

The proposal is likely to result in the following benefits:

1. the creation of new job opportunities in New Zealand;
2. increased productivity in New Zealand; and
3. the introduction into New Zealand of development capital.