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Silver Fern Farms chief executive Dean Hamilton says its capital structure has held back growth.
Hamilton says the co-op doesn't have the right strategy to execute its pasture-to-plate strategy.
"We set out on a journey 12 months ago to raise new equity to fix situation once and for all," he told shareholders at a special general meeting in Dunedin today.
Hamilton says only 5% of SFF products are premium high value products.
He says the extra capital to be poured in by Chinese conglomerate Shanghai Maling will help SFF execute the strategy.
"The strategy is to drive more business up the value chain and increase returns and share it with qualifying suppliers."
Shareholders are voting on the Shanghai Maling proposal today.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
The next phase of the Taste Pure Nature campaign has been launched in Shanghai, China.
OPINION: The Hound hears that tension was in the air at the recent Silver Fern Farms AGM, with the board reportedly dazed and confused at why their CEO would continue to hammer farmers to lower their emissions in perpetuity, without being able to state a dollar value for any of the touted premiums.
Despite Silver Fern Farms (SFF) posting a $21 million loss last season, chief executive Dan Boulton believes that better days are coming.
Variable weather conditions across the country are being blamed for the slow start to the meat processing season.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
