Fonterra consumer business sale price jumps to $4.22b
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
Bay of Plenty dairy farmer Donna Smit has been elected to Fonterra’s board.
Smit and sitting director Michael Spaans were voted in by shareholders; Canterbury farmer Stuart Nattrass was unsuccessful.
Smit lives and farms at Edgecumbe; building and owning even dairy farms in Eastern Bay of Plenty and Oamaru.
She is a director of Ballance Agri Nutrients and Primary ITO, and a Trustee of Taratahi Agricultural Training Centre and Eastern Bay Energy Trust. A charted accountant by profession, she was company administrator at Kiwifruit Cooperative
EastPack for 24 years.
Smit will join the board at Fonterra’s annual meeting in Darfield on Thursday.
Fertiliser co-operative Ballance has written down $88 million - the full value of its Kapuni urea plant in Taranaki - from its balance sheet in the face of a looming gas shortage.
The Government and horticulture sector have unveiled a new roadmap with an aim to double horticulture farmgate returns by 2035.
Canterbury farmers and the Police Association say they are frustrated by proposed cuts to rural policing in the region.
The strain and pressure of weeks of repairing their flood-damaged properties is starting to tell on farmers and orchardists in the Tasman district.
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
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