Alliance Group returns to profit after two years with $93m turnaround
After two years, Alliance Group has returned to profit.
They say the detailed ‘Pathway To Long Term Sustainability’ report MIE produced identified the downward spiral this section of the meat industry was in and offered solutions for a profitable farmer-controlled direction.
The ‘Mega Co-op proposal’ was rejected by the Alliance and Silver Ferns management of the day.
The latter was subsequently taken over by Shanghai Maling.
Alliance will soon be controlled by an Irish company. So it seems the days of farmer control of the industry are over. Being right is cold comfort to those that saw this coming.
