Two milk processing plants changing hands
Two large milk processing plants in New Zealand are changing hands.
OPINION: Nearly four years after buying a 75% stake in Southland processor Mataura Valley Milk (MVM), A2 Milk is still struggling to take the plant to profitability.
In its half-year results last month, A2 says the half year was characterised by higher GDT market pricing, plus higher milk volumes processed through the MVM site. As a result, revenue of $57.4 million was $13.9 million higher than prior year, with EBITDA losses improving to $11.9 million (1H24: $15.3 million).
The company continues to work on a range of initiatives to accelerate MVM's path to profitability, which remains a key priority.
A2 Milk bought the 75% interest in MVM from China Animal Husbandry Group (CAHG), which retains a 25% stake in MVM.
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.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).
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OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.