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Carter Holt packages profits in Iran

By Phil Boeyen, ShareChat Business News Editor

Thursday 21st December 2000

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Carter Holt Harvey (NZSE: CAH) is looking at further opportunities for its packaging technology in the Middle East following the success of a deal with Iran's kiwifruit industry.

The deal is worth $750,000 a year for the next three years and will see Carter Holt supplying both bulk and consumer packaging for Iran's Caspian-branded kiwifruit. The company has also been asked to supply packaging for export apples.

CAH spokesman Gerry Lenting says the Iranian contract has helped to extend packaging production into the New Zealand off-season.

"Our Case Levin plant has continued working at full capacity at a time of year when we would normally have slowed production significantly."

He says the possibility of setting up a joint venture to develop a corrugated packaging plant in Iran has also been raised.

"There is nothing comparable to Carter Holt Harvey board and board products available in Iran at this time. Our Iranian partners have the need and the vision, and Carter Holt Harvey can supply the technology and expertise to develop an exciting new industry for the region."

In New Zealand, Carter Holt Harvey has 55% of market share in kiwifruit packaging, and 53% of horticultural packaging supply overall.

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