By PAULA OLIVER forestry writer
Fletcher Challenge offshoot Rubicon revealed the first of its plans to put cash behind innovation yesterday, saying it will work with the crown research institute HortResearch.
Rubicon will be created from the separation of Fletcher Challenge and is intended to be a technology-based company that could offer commercial opportunities to groups such as universities, crown research institutes and other research groups.
Its venture with HortResearch will first focus on products that help fruit trees grow more reliably in diverse climates.
It will also help develop products that improve the quality of fruit.
Rubicon will take on the biotech interests of Fletcher Forests, which are complementary to Hort-Research's work with tree-based research, said Fletcher Challenge.
Some analysts predict that Rubicon's shares will suffer from early selling pressure when the company is launched, because the Energy shareholders who are issued with the shares may not want to keep them.
Despite scepticism from some analysts, Fletcher Challenge chairman Michael Andrews said this week that there was strong interest in Rubicon from investors.
Rubicon's crowning moment
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