Revamped Fonterra to be ‘more capital-efficient’
Fonterra chair Peter McBride says the divestment of Mainland Group is their last significant asset sale and signals the end of structural changes.
Last week, a group of activists scaled the dryer at Fonterra Te Rapa before unfurling a banner labelling the country’s biggest export earner a climate polluter.
Greenpeace is also suing Fonterra for claiming its Anchor brand butter is 100% New Zealand grass-fed. An online petition to stop Fonterra from using palm kernel expeller is also being run.
Why this sudden burst of activism? Milking It reckons it’s to do with Fonterra announcing a massive $1.1b profit last year and its second-highest milk price forecast on record for its hard-working farmers.
It’s clear Greenpeace cannot bear a successful Fonterra. Definitely, a case of sour grapes!
