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Article: NZ company to invest in Uruguay.(NEW ZEALAND/URUGUAY)(PGG Wrightson)(Brief article)
- Article from:
- Agra Europe
- Article date:
- September 29, 2006
CopyrightCOPYRIGHT 2006 Agra Europe Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New Zealand rural services company PGG Wrightson announced this week it was considering a NZ$100 million farming investment in Uruguay.
A formal statement to the New Zealand Stock Exchange on September 26 said it was considering a public float to raise capital for a new company "based on the application of New Zealand farming systems to pastoral agriculture in Uruguay".
The attraction is cheap land, the New Zealand Herald reported, quoting an unnamed dairy sector observer as likening the South American country to the Southland province where inexpensive farmland persuaded a considerable number of North Island farmers to shift production in recent years.