Lactalis in front to acquire Fonterra’s Australian dairy assets after ACCC clearance
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Fonterra is shedding another 227 jobs as part of an on-going business review.
In a statement today, the co-op said total job losses to date stands at 750; it had previously announced 523 job losses.
Fonterra chief executive Theo Spierings says the purpose of the review is to ensure that Fonterra remains well positioned to compete in a rapidly changing global dairy market.
One-off savings generated by changes the cooperative is making during the business review, such as improving working capital, have already enabled the cooperative to support our farmers during challenging market conditions.
The review is an on-going process that looks at the entire business to identify potential areas where the cooperative can find more efficiencies and improve future performance, he says.
"We have great people, but we have to make tough decisions to ensure Fonterra remains competitive in this environment. We will continue to fine-tune our organisation to ensure we best support the initiatives identified by our business review," says Spierings.
"Our business is looking to the future with the momentum, energy and solid plans needed to keep improving performance."
Listed carpet manufacturer, Bremworth is undertaking a $6 million expansion at its Napier plant more than two years after the site was heavily damaged by Cyclone Gabrielle.
Federated Farmers is vowing to keep the big banks accountable for their actions and to continue pushing for meaningful change in the rural lending sector.
Farmer perceptions of current economic conditions have risen to their highest level in almost a decade.
Two butcheries have claimed victory at the 100% New Zealand Bacon & Ham Awards for 2025.
A Taupiri farming company has been convicted and fined $52,500 in the Hamilton District Court for the unlawful discharge of dairy effluent into the environment.
The Climate Change Commission’s 2025 emissions reduction monitoring report reveals steady progress on the reduction of New Zealand’s climate pollution.
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