Government appoints three new directors to Pāmu board
The Government has appointed three new members to the board of state farmer Landcorp Farming Ltd, trading as Pāmu.
A programme of improvements on the Crafar farms will begin as soon Chinese company Shanghai Pengxin can settle on the properties.
The company says it is pleased with the Court of Appeal ruling in its favour and, with Landcorp, looks forward to beginning the improvements.
Shanghai Pengxin says the farms will be bought in the name of its subsidiary Milk New Zealand Holding Ltd and run by Milk New Zealand Farm Management Ltd, a joint venture with Landcorp Farming Ltd, which will honour all current arrangements made by the receiver with sharemilkers and staff.
"Our immediate priority is to begin the process of improving the farms, increasing production, and making sure we comply with all of the conditions imposed by the Overseas Investment Office," says a statement issued by Shanghai-Pengxin.
"We look forward to becoming part of our local communities and we will set up a local team to explore opportunities to add value to New Zealand milk through further processing by New Zealand companies and the sale of high-value dairy based products to China under the Pure 100 and Nature Pure brands."
Shanghai Pengxin thanked the many individual Kiwis and organisations who welcomed, encouraged and worked with them to help make their vision a reality.
"We believe there will be strong benefits to New Zealand as a result of us proceeding with our business plans, and we look forward to making a contribution to New Zealand's dairy industry and strengthening the relationship between our countries," it says.
"We will make further announcements in due course."
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural machinery manufacturers will be looking for new markets.
Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
With nearly two million underutilised dairy calves born annually and the beef price outlook strong, New Zealand’s opportunity to build a scalable dairy-beef system is now.

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