Contracts will be respected
Chinese dairy giant Yili says it will respect all contractual obligations to pay current and former milk suppliers of Westland Milk.
He says Westland is a proud business with a strong history on the West Coast and in Canterbury.
“Jingang’s ownership provides confidence, security and competitive payouts for farmers – and their families – in our region. I am sure this will provide a strong platform for dairying in the region for many years ahead.”
Morrison says throughout the sale process all farmers were treated equally and all stand to be equally rewarded in the future.
“Fairness and equality were critical principles for the board and we are pleased these principles were understood and respected by Jingang and Yili throughout our negotiations.
“My fellow farmers and I now look forward to helping Yili achieve its long term goal of becoming the most trusted healthy food provider in the world. It is an exciting vision and it is exciting to help make this a reality.
“The strong engagement and support shown by Westland’s shareholders at the recent shareholder meeting demonstrates the importance our farmers place on the new relationship and their faith in Yili working with them to build Westland’s positive future.
“It is truly a win-win result for all involved.”
