Fonterra seeks strong farmer mandate for sale
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
FONTERRA HAS opened a dairy ingredients warehouse in Dubai to help support the growing demand for dairy products throughout the Middle East, Africa, and the Commonwealth of Independent States (CIS) region.
The warehouse will enable Fonterra to hold more than 5,000 metric tonnes of product in Dubai ready for quick supply to customers.
It will work as a distribution hub for Fonterra's ingredients business which sells more than $2.3 billion in dairy ingredients throughout the region each year.
Pictured from left, : Jafza senior vice president, Adil al Zarooni; New Zealand Minister for Primary Industries Nathan Guy; Fonterra's general manager Middle East Africa and Commonwealth of Independent States, Miles Hurrell and Malcolm Miller – ambassador, New Zealand Embassy Dubai, officially opened the warehouse.
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Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
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