Fonterra investing $70m in new electrode boilers
While opening the first electrode boiler at its Edendale site, Fonterra has announced a $70 million investment in two further new electrode boilers.
Developers of the site, a joint venture between listed entities Goodman Group and Fletcher Building, will now work together with Fonterra to finalise the necessary planning and building design, structure, and negotiations for a tenancy agreement.
Chris Caldwell, managing director people, culture and services, says while there is still some work to do before the cooperative will sign a lease, the preferred site will enable all Fonterra's employees in the area to be based in one location, instead of several as they are now.
"Being closer together will enable our people to work together more seamlessly. This will provide a real opportunity to enhance the way our people feel about coming to work every day," says Caldwell.
Fonterra will not own or develop the building. It will be developed by the Goodman Group/Fletcher Building partnership and ultimately owned by the Goodman Group. Fonterra will take a long-term lease.
The cooperative's current lease expires in July 2016.
