Fonterra Study Tour

Thursday, 12 August 2004, 12:31 am
Press Release: Federated Farmers

12 August 2004
Fonterra Study Tour

Three representatives of Federated Farmers of New Zealand (Inc) have joined a study tour to learn more about the Fonterra Co-operative Group Ltd, and in particular about capital structures.

The three will accompany a small group of Fonterra Directors and Shareholders' Councillors on the visit to Fonterra operations in New Zealand, Australia and North America.

"The trip is intended to create a greater understanding of Fonterra's business, in particular around issues of capital structure," said Kevin Wooding, Chairman of Dairy Farmers of New Zealand (DFNZ), the dairy industry group of FFNZ.

Joining Mr Wooding on the tour are DFNZ Vice Chairman Frank Brenmuhl and John Pask, FFNZ's Deputy Director, Policy.

"Fonterra has said it plans to review its capital structure, so it is crucial that farmers are informed about vital parts of Fonterra's 'cow-to-customer' value chain and the pros and cons of alternative structures as the co-operative moves forward," Mr Wooding said.

Federated Farmers has written to Fonterra Chairman Henry van der Heyden outlining the importance of the Federation retaining its independence in any debate about future options.

"DFNZ's aim is to give our members independent, reliable and up to date information about Fonterra's review of its capital structure. Our involvement will mean that we can help get the best possible outcome for the co-operative and individual members," Mr Wooding said.

The Fonterra-sponsored tour is scheduled to begin today and end August 20.

ENDS

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