Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra chief executive Theo Spierings says: "Public safety is Fonterra's number one priority. When we informed our customers and the Ministry for Primary Industries of the quality issue, we advised them that it was limited to three batches of whey protein concentrate.
"We appreciate the New Zealand Government confirming this to be the case and reiterating the safety of all other New Zealand dairy products, including Whole Milk Powder (WMP) and Skim Milk Powder (SMP), butter and cheese.
"Our customers and trading partners have been reassured of this and we are continuing to work closely with the New Zealand Government to ensure that we are communicating accurate messages about product quality and safety."
The potentially affected product is confined to 38 metric tonnes of whey protein concentrate (WPC80) manufactured at a single Fonterra site in New Zealand. This was subsequently used in the manufacture of infant formula, juice and dairy beverages, yoghurt, body building powder, and animal stock food.
"Our customers have worked quickly to locate and secure products that were not in the market and, where they had already reached retail shelves, initiate recalls. Their fast response has meant that almost all products are now back or on their way back", Spierings says.
For information on recalls taking place in New Zealand, visit www.mpi.govt.nz
