Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Global Co: Top Five In Five Years Impossible

MEDIA RELEASE

11 June 2001

Global Co: Top Five In Five Years Impossible –
Larsen’s Claim Not Credible


“Rubbish!” said Mark Masters in response to Warren Larsen’s claim that Global Co will become one of the top five dairy food businesses in the world within five years. [Mr Larsen made this claim in a recent newsletter to farmers, and at a recent Hamilton meeting with farmers].

“What’s more, Mr Larsen’s claim that it can be done with farmer money only is simply ludicrous”.

“To lift Global Co’s turnover from $10 billion pa to $100 billion pa within five years defies credibility”, said Mr Masters.

In its report to the Government of May 2001, Promar International advised that to reach the top tier of world dairy food companies, Global Co would need to have $100 billion of sales, $66 billion of equity and around 180,000 employees.

On merging, Global Co would have about $9 billion of sales and about $3 billion equity.

On the world stage, Global Co will still be a relatively small.

“Farmers who are voting for Global Co in the belief that the strategy can be delivered without share capital from outside the industry are being badly mislead”.

If Global Co is serous about implementing the industry’s strategy, it will have little choice but to bring in outside share capital.

“Industry leaders can’t pretend otherwise”, concluded Mark Masters.


ENDS

Inquiries to:
Mark Masters (025) 541 729
Hilary Webber (025) 907 342
Malcolm Bailey (06) 323 8147


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: