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 CHAIRMAN John Wilson visited Fonterra's new $126 million UHT milk processing site at Waitoa on the weekend.
The site is in its final stages of testing before commissioning Anchor UHT milk and cream products at the end of this month.
Wilson says he is impressed with how quickly it had taken the site to get to this stage with construction completed in 12 months.
"It was great to get the chance to visit and meet the team who have brought our Waitoa site to life. There is a real sense of pride from the team on the ground.
"It's exciting to think that 24,000 packs per hour will soon be being produced for customers in China and throughout Asia."
Fonterra's UHT milk processing site at Waitoa will allow the cooperative to process more than 100 million litres of milk per year by August when all five of its processing lines will be operating.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
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.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
It took a stint at university to remind Otago dairy farmer Megan Morrison that being stuck in a classroom was not for her.