Season's first kiwifruit China bound
Zespri's first charter shipment of the 2024 New Zealand kiwifruit season is on its way to Shanghai.
Shareholders of Opotiki Packing and Cool storage (OPAC) yesterday voted resoundingly to buy out Seeka's 19.91% shareholding in the company at a cost of just over $3.2 million.
OPAC managing director, Craig Thompson, says the move signals the company's intention to focus on expansion in the eastern Bay of Plenty and Poverty Bay.
Thompson says that Seeka Kiwifruit Industries has been a cornerstone shareholder of OPAC since 2005.
"Over the last few years it became apparent that Seeka and OPAC have divergent strategies. The two companies are not achieving operational or strategic benefits from the shareholding and, in fact, are actively competing to gain orchard management and post-harvest fruit supply contracts."
"The share buyback delivers us complete control over our future plans. The OPAC management team and board consider the outlook for the NZ Kiwifruit industry and company is bright. Our client base is growing because our operational performance consistently delivers grower returns in the upper quartile and we provide friendly and personal service."
OPAC board chairman, Tony de Farias, says the board is pleased to have shareholder support for the buyout. "We will continue to review capital requirements and look for suitable alliances with growers and our supply partners," he says.
OPAC growers of the new kiwifruit cultivar G3, which replaced the Psa prone Hort16a, expect increased volumes of fruit over the next two to three years. OPAC expects to pack around 4.3 million trays this year and 6 million trays by 2018. To keep up with increased fruit volumes, the Factory Road site at Opotiki will be expanded and updated.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
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