Mars to help farmers reduce emissions
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
Fonterra has managed to sell only 1% of its stake in the troubled Chinese company Beingmate.
Chief executive Miles Hurrell says the co-op will continue to offer the shares on the Shenzhen Stock Exchange market.
Under the sharemarket rules it is only possible to sell up to 1% cent every 90 days directly on the exchange, or sell up to 2% in a single block every 90 days.
Trades greater than 5% can be made to an individual party in an off-market transaction.
Hurrell says the co-op is also willing to sell a larger stake off market to any interested party.
Fonterra paid $750 million for its 18.8% shareholding in March 2015, in a bid to gain access to Chinese consumers for its infant formula.
Last year Fonterra wrote down the investment by $439m which helped lead to its first ever annual loss of $196m.
Hurrell says apart from Beingmate, the co-op is reviewing its China Farms and Brazilian joint venture with Nestle.
He expects a decision on both these investments this financial year.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
Beef + Lamb New Zealand chief executive for the past eight years, Sam McIvor is heading for new pastures at Ospri, which runs NZ’s integrated animal disease management and traceability service.
The world's largest wool scouring facility, WoolWorks Awatoto plant in Napier, is back operating at full capacity.
A year on and the problems created by Cyclones Hale and Gabrielle has largely dropped off the radar of media and politicians.
Feeling forgotten and in a fragile space financially and mentally.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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