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


All For Delivering Better Returns To Farmers

Shareholders’ Council All For Delivering Better Returns To Farmers

Fonterra’s Shareholders’ Council is supportive of Fonterra’s proposal to increase its shareholding in Bonlac Foods from 25% to 50% to form an equal partnership with the Bonlac Supply Company.

The Council, which represents Fonterra’s more than 12,000 shareholders, has been briefed by the company on the initiative and believes the proposed joint venture is in farmers’ best interests.

Shareholders’ Council Chairman, Tony O’Boyle, said today that partnering across the Tasman made sense because it would ultimately deliver better returns into farmers’ pockets. The partnership would create a stronger, globally competitive business for Fonterra and Bonlac and strengthen Fonterra’s position as a leading global dairy ingredients supplier.

“It’s a good move strategically, because the two partners in Fonterra and Bonlac can deliver processing experience, good milk supply relationships and a global sales and marketing network that can get the products manufactured by Bonlac Foods out into the world markets efficiently and effectively.”

Mr O’Boyle said he believed farmers on both sides of the Tasman would see the sense of the proposal. For Fonterra’s shareholders it was a well structured deal and for Bonlac shareholders it laid out a clear path for improved performance.

“It’s fair, it makes strategic sense and in the longer term it’s a deal which will improve earnings for Fonterra’s shareholders and for Bonlac’s.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news