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REEF GROUP - NIUE JOINT VENTURE

In business as in life, sometimes the greatest endeavours can grow from being in the right place at the right time. On a visit to Niue to negotiate a five year shipping contract Reef Group found themselves confronted with some major horticulture & aquaculture opportunities. The thriving forests were a haven for the growth of nonu fruit , and the clear waters were plentiful with much sought-after high quality fish. These abundant resources, that had remained largely untapped, presented themselves as a hugely exciting avenue for economic growth, and aligned themselves perfectly with the Reef Group philosophy for developing industry in Pacific nations.

Reef Group management moved quickly to enter into negotiations for 2 joint ventures with the Government of Niue. Niue Fish Processors at Alofi, and Niue-Noni Joint Venture at Vaiea Farm.

Niue Fish Processors is a completely self-sufficient purpose built facility. It has been constructed using all the latest materials and technology. The operation is designed to process all fish caught in the country's EEZ, and deliver some of the best fish products in the world meeting all international export standards. With negotiations underway for New Zealand funding for local Niuean fishing boats, and strong interest from international markets, the opportunities to grow the industry are constantly increasing.

Niue-Noni Joint Venture based at Vaiea Farm is the most technologically advanced processing plant in the Southern Pacific capable of producing 600,000 litres of noni juice per month. This juice has been used in Pacific cultures for thousands of years as a natural health remedy and has major international interest. While the young nonu plants develop in the newly-planted 300-acre orchard, fruit is being sourced from villages around the island where nonu grows freely in the wild. This fruit is being bought for 50c a kilogram which potentially could generate $50,000 in income each month for the Niuean people. In a country where the population is just 1500, and the average wage $3 an hour this earning potential is previously unheard of. Reef Group CEO, Wayne Harris-Daw comments "that's what is so exciting about this industry, that it creates so much employment and it's real money, and they get paid on the spot"

Both ventures were officially opened in October 2004 and directly employ up to 200 staff.

With every new business there are challenges, and your success or failure is governed by how well you face these. When Cyclone Heta ravaged Niue in January 2004 Reef Group Managing Director, Phillip McNicholl went to survey the damage. He was heartened by the positive attitude displayed by the local community, and did not hesitate to confirm his lasting commitment to the new ventures. The people's determination in the face of adversity only served to strengthen his desire to see Niue become a self-sufficient nation.

For Reef Group Limited and Niue this is only the beginning of a long-term vision for the continued development of this pristine island nation.