ArborGen Provides Update on Hurricane Helene Impact

2 October 2024 - ArborGen Holdings Limited (NZX: ARB) (ArborGen or the Company) has today provided an update on the impact of Hurricane Helene on its orchards in Georgia, USA.

The company’s first priority has been the safety and welfare of its people, many of whom have suffered damage to their homes or are living without electricity, cell coverage or with reduced access due to road damage and flooding.

CEO Justin Birch said: “Our thoughts are with all those affected by Hurricane Helene, especially our ArborGen team and their families. We are doing all we can to support our people and would like to thank them for their incredible efforts, both prior to the storm and in the clean-up and salvage.”

While the company is still assessing the impact of the storm, it can advise that the crop for FY25 is mostly unaffected. There was minimal crop damage at ArborGen’s Bellville Nursery, demonstrating the value of ArborGen’s investment in container planting.

Some damage to trees has been sustained at two of ArborGen’s orchards which will result in a lower seed harvest in FY25 and following years. These are smaller orchards representing around 30% of ArborGen’s FY25 coastal MCP® expected seed harvest. It is currently at the start of the harvest season, after which the company will have a clearer idea of the impact on its seed inventory. ArborGen confirms it has sufficient inventory to meet projected customer demand.

ArborGen is also reaching out to customers, with many forests devastated by flooding, mud and landslides and strong winds.
ENDS

Authority for this announcement:
Justin Birch, President and CEO, ArborGen Holdings Limited

For more information, please contact:
Jackie Ellis, Ellis and Co e: [email protected] t: +64 27 2462505

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