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About 100 Silver Fern Farm shareholders have turned up for the company's special meeting in Dunedin.
The largest processing company, Silver Fern Farms (SFF), owned by 6200 farmer shareholders, has been offered the lifeline of a $261 million injection by Shanghai Maling, a Chinese company.
Shareholders will vote on the proposal today.
Chairman Rob Hewett thanked the shareholders for their strong interest in the company.
SFF chief executive Dean Hamilton told shareholders that the proposal gives the company a unique position in China.
"It will help us truly unleash our pasture to plate strategy," he says.
Voting results are expected around midday.
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.
The second event in the Silver Fern Farms ‘Pasture to Plate Roadshow’ landed in Feilding last week, headed by chair and King Country farmer, Anna Nelson, and chief executive Dan Boulton.
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.
Westpac NZ has announced new initiatives that aim to give customers more options to do their banking in person.
New Zealand red meat exports experienced a 29% increase year-on-year in September, according to the Meat Industry Association (MIA).
The head of the Ministry for Primary Industries (MPI) biosecurity operation, Stuart Anderson, has defended the cost and the need for a Plant Healht and Environment Laboratory (PHEL) being built in Auckland.
BNZ says its new initiative, helping make the first step to farm ownership or sharemilking a little easier, is being well received by customers and rural professionals.
The head of Fonterra's R&D facility in Palmerston North is set to literally cross the road and become the new vice chancellor at Massey University.
Allan Freeth, chief executive of the Environmental Protection Authority (EPA) has announced he is resigning.
