Fonterra eyes EcoPond pilot to reduce on-farm emissions
Fonterra has invested in a new effluent pond mobile dosing service to support farmers to reduce emissions and make progress towards its on-farm emissions reductions target.
Fonterra says its ongoing legal battle with Australian processor Bega Cheese won’t change its divestment plans.
The co-operative also plans to appeal a ruling by the New South Wales Supreme Court on a case around Fonterra’s proposed divestment plan and its impact on a licencing agreement with Bega.
Fonterra argued that provisions of its licensing agreement with Bega are not impacted by the proposed divestment process. However, Bega, a potential bidder for Fonterra’s Oceania business, opposed Fonterra’s submission.
Bega Cheese issued a statement saying the NSW Supreme Court dismissed Fonterra’s proceedings and ordered the co-op to pay costs and it welcomed the decision.
In a statement, Fonterra’s managing director mergers & acquisitions and strategic divestments, Mike Cronin, says that the court “stated it is unable to make a determination at this stage, as there is not yet enough certainty about the outcome of the divestment process”.
“Our view has not changed as a result of the court decision and Fonterra intends to appeal this decision in the coming weeks.
“This does not change our divestment plans, and we continue to pursue both a trade sale and initial public offering (IPO) as potential divestment options.”
Fonterra’s Oceania business, which includes iconic Anchor, Mainland and Western Star brands, is attracting bidders. French company Lactalis and Bega Cheese are among them.
Bega executive chairman Barry Irvin says the company will always fight to protect its rights.
“We hope to work constructively with Fonterra Group on the sale of its Oceania business of which Bega Group is a natural acquirer and remains very interested in.”
Fonterra’s divestment plan includes either the sale of float of Fonterra Oceania and Fonterra Sri Lanka, which has 17 manufacturing sites around the world, including three in New Zealand.
The Primary Production Select Committee is calling for submissions on the Valuers Bill currently before Parliament.
Horticulture New Zealand (HortNZ) says that commercial fruit and vegetable growers are getting ahead of freshwater farm plan regulations through its Growing Change project.
Lucidome Bio, a New Zealand agricultural biotech company was recently selected as one of fourteen global finalists to pitch at the Animal Health, Nutrition and Technology Innovation USA event in Boston.
Tractor manufacturer and distributor Case IH has announced a new partnership with Meet the Need, the grassroots, farmer-led charity working to tackle food insecurity across New Zealand one meal at a time.
The DairyNZ Farmers Forum is back with three events - in Waikato, Canterbury and Southland.
To celebrate 25 years of the Hugh Williams Memorial Scholarship, Ravensdown caught up with past recipients to see where their careers have taken them, and what the future holds for the industry.
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