increase font size
Silver Ferns Farm chairman Rob Hewett says the deal with Shanghai Maling wasn't done after "a behind the bike shed discussion".
He told shareholders that there was a global discussion before the decision was made to go with Shanghai Maling.
"Everybody who wanted to be part had an opportunity to come to the negotiation table," he told the special general meeting in Dunedin.
"In Shanghai Maling we have found a like-mined partner; the board unanimously recommends the partnership to shareholders."
Hewett says the status quo is not sustainable.
He says the Chinese company has the capital to accelerate SFF's pasture-to-place strategy and boost farmgate returns.
He also stressed that SFF still exists as a co-op.
"We intend to behave like a co-op; to say the co-op is not alive is not true."
One of the most galling aspects of the tariffs whacked on our farm exports to the US is the fact that, now more than ever, US farmers are being propped up by government welfare – a direct result of Trump’s hardline on its trading partners.
Premium wool carpet maker Bremworth is being sold to the world's largest flooring company.
China looks set to play a key role in helping the New Zealand wool sector shift away from trading as a commodity supplier.
A 50% tariff slapped by the US on goods from India last month has opened an opportunity for New Zealand wool carpets exports to North America.
If you find a new consumer in a developed wine market, you are taking them from someone else, says Blank Canvas co-founder Sophie Parker-Thomson MW.
Former Agriculture Minister and Otaki farmer Nathan Guy has been appointed New Zealand’s Special Agricultural Trade Envoy (SATE).
Alliance Group has commissioned a new heat pump system at its Mataura processing plant in Southland.
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Meat processors are hopeful that the additional 15% tariff on lamb exports to the US will also come off.
Fears of a serious early drought in Hawke’s Bay have been allayed – for the moment at least.
There was much theatre in the Beehive before the Government's new Resource Management Act (RMA) reform bills were introduced into Parliament last week.
OPINION: The release of the Natural Environment Bill and Planning Bill to replace the Resource Management Act is a red-letter day…
OPINION: Federated Farmers has launched a new campaign, swapping ‘The Twelve Days of Christmas’ for ‘The Twelve Pests of Christmas’ to…
