Fonterra farmers will receive a record $8.50kgMS for milk supplied to the co-op last season.

FONTERRA FARMERS are welcoming the co-op's infant formula joint venture in China.

FONTERRA HAS reduced its forecast farmgate milk price for the 2014/15 season from $7 to $6/kgMS and announced an estimated dividend range of 20-25 cents per share

FONTERRA HAS announced two senior appointments to its management team.

FONTERRA IS "very confident" with its legal position in the Danone case and has budgeted just $11 million, says Lukas Paravicini, chief financial officer.

FONTERRA PLANS to spent up to an extra $500 million to increase capacity through its plants, with emerging market demand growing faster than expected, says chief executive Theo Spierings.

Fonterra has appointed Pascal De Petrini as managing director of its Asia Pacific, Middle East & Africa (APMEA) business unit.

Fonterra chairman John Wilson and chief executive Theo Spierings will lead a board of directors' visit to China next week to meet with Fonterra management and key stakeholders.

Fonterra is in damage control as its export markets react to potentially contaminated whey protein concentrate ending up in infant formula and other dairy products.

Fonterra will this morning release more details of a food scare involving three batches of whey protein concentrate manufactured in New Zealand last year.