Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
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."
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.