31 Dec 2012

Niue government unsure about Reef businesses

6:11 am on 31 December 2012

Niue remains in the dark about what will happen to the noni farm and fishing plant that it has half shares in with the Reef Group.

The American company, Matson, announced last week that it was buying the shipping assets of Reef, which went into receivership last month.

Niue's multi million dollar fish processing plant has been idle for years but the noni farm had been flourishing and Reef had been selling the juice to China.

The premier of Niue, Toke Talagi, says he is yet to find out what will happen with these businesses, but he is pleased the Matson take-over of Reef appears to mean business as usual as far as shipping is concerned.

"And that the agreement that we have with Reef will continue to be honoured by the company as we understand it, but I can't speculate on anything at the present moment until we have found out the greater details of what is happening with respect to the take over of the company."