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Workers nervous about Fonterra announcement

Media Release: NZ Dairy Workers Union
Wednesday
November 14 2007

Workers nervous about Fonterra announcement

“Dairy workers are concerned for the future of the New Zealand dairy manufacturing industry, with potential changes to Fonterra likely to increase pressure to undertake further commercial activities offshore which can be efficiently be undertaken in this country,” said James Ritchie, National Secretary of the NZ Dairy Workers Union.

“Our labour market has taken enough hits with the transfer of manufacturing plants offshore without Fonterra creating the conditions which encourage further divestment in New Zealand.”

“Listing part of the cooperative on the share market, even if it is just a class of non controlling shares, is a slippery slope to greater overseas influence of the company.”

“Once in the door, the pressure from powerful international corporate interests will intensify for a greater stake New Zealand’s most lucrative industry.”

“The New Zealand Dairy Workers Union strongly supported the creation of Fonterra. It was a good decision for industry competitiveness and a necessary step for New Zealand to expand its influence in the global dairy trade.”

“The support was in the context of the wealth being returned to this country through its cooperative owners and the confidence of continued investment in New Zealand jobs,” said James Ritchie.

Ends

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