Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
FONTERRA IS "very confident" with its legal position in the Danone case and has budgeted just $11 million, says Lukas Paravicini, chief financial officer.
The $11 million set aside in the Danone law suit is what it views as its legal obligation in the contract, Paravicini said today at the release of its half-year result.
"We are very confident with our legal position and we will defend that position vigorously and at this stage we do not see the need for any further provisions under the legal contractual obligation."
Danone has previously indicated lost sales from precautionary food safety recall of whey protein concentrate supplied by Fonterra cost the company at least $500 million.
Chief executive Theo Spierings said today Fonterra would be happy to have Danone back as a customer.
"Danone is a very key customer, it is very unfortunate we went through the 'event'. There's two parties involved here – two parties with different opinions."
He says they would be open to a commercial discussion with Danone at all times. "But there is a legal situation ... so we are not going to talk about it here right now," he told a press conference at the Auckland's head office.
But on the commercial side they have an approach of "an open line like any customer", he said.
Farmer-led charity, Meat the Need is calling for donations to enable it to supply more meals to families in need.
Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
Horticulture NZ chief executive Nadine Tunley will step down in August.