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Well done Westland

3 August 2005
Well done Westland

Westland Milk Products should be congratulated for achieving an excellent result for its farmer suppliers in the 2004/5 season, said Frank Brenmuhl, Chairman of Dairy Farmers of New Zealand.

Westland today announced a payout of $4.47 a kilogram of milk solids. The payout was boosted by additional non-cash benefits of about six cents a kilogram, giving an effective payout of $4.53.

"This is an excellent result for Westland's 336 suppliers and the West Coast economy.

"Westland's result will be very welcome by dairy farmers on the West Coast. This level of payout is essential to keep dairy farmers in business - given the large increases in compliance and energy costs faced by farmers.

"Suppliers should also take comfort from the company saying that market fundamentals and currency projections suggested returns would be satisfactory in the 2005/6 season.

"It is also pleasing to see that Westland's final payout is competitive with other milk processing co-ops," Mr Brenmuhl said.

Dairy Farmers of New Zealand is the dairy industry wing of Federated Farmers of New Zealand.

ENDS

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