Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
Fonterra chairman John Monaghan says Tip Top’s new owner, Froneri is doing a great job looking after its former employees.
He told the co-op’s annual meeting in Invercargill today that selling Tip Top wasn’t easy.
“We knew it wouldn’t be a popular decision with some of you, but it was the right call.
“Was it an iconic business? Yes. Was it on strategy and a key part of our future? Definitely not.
“Once we took the emotion out of the process, making that call was easy: we divested it as a mature asset for a great price.”
Monaghan says Froneri has retained all former Fonterra employees, who have kept their jobs as part of the deal.
Fonterra has used the proceeds to help reduce debt levels and give it more options for the future.
It has sold its stake in Venezuelan consumer joint venture, Corporacion Inlaca, and its 50% share of DFE Pharma – a joint venture with FrieslandCampina.
“We are considering our options for our ownership of our China Farms, Dairy Partners Americas which is our joint venture in Brazil, and have begun the process of sellingdown our 18.8% shareholding in Beingmate.”
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
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