Another Windfall for Fonterra Farmers, Unit Holders
Fonterra farmer shareholders and unit holders are in line for another payment in April.
He was creator of a pest-control product and 1080 alternative Feratox. He pleaded guilty in December to two counts of blackmail. Threats were sent to Federated Farmers and Fonterra in November 2014 threatening to poison infant formula if New Zealand did not stop using 1080 by the end of March 2015.
The Crown asserts he was motivated by financial gain, which he denied at a disputed facts hearing started last week in the High Court at Auckland to give the judge greater clarity around his motives. The hearing was the first time his identity was made public.
Kerr claimed he was suffering from poor mental health and "cracked". He said he was triggered by media reports on 1080 and comments by Environment Minister Nick Smith.
Kerr told police royalties totalled $100,000 a year on Feratox and the Crown asserts he stood to gain financially if 1080 was banned. The hearing was adjourned until next month. Kerr could face 14 years behind bars.
Two companies dealing in pest control products, Connovation Ltd and Connovation Research Ltd, issued statements emphasising their companies are not connected to those companies operated by Jeremy Kerr.
Infant Nutrition Council chief executive Jan Carey says it was a highly despicable thing to do.
However, she believes that any smaller infant formula businesses going out of business would be more to do with the Chinese changing to regulations to make it more difficult for contract manufacturing than the 1080 scare.
"The Chinese want supply integrity, they want an integrated system. With the small companies that have gone out of business it is much more likely to be because of the changes in Chinese regulations... than the 1080 threat."
She can't say speak for individual businesses that may have been affected by the 1080 threat, but she does know that brand companies without manufacturing facilities are having trouble surviving.
