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Coordination Not Disintegration Needed


6 May 2008

Coordination Not Disintegration Needed

The Chairman of Federated Farmers Meat and Fibre section says farmers are troubled at the failure of the mega-merger between Alliance and PPCS and other companies.

But Keith Kelly is urging all shareholders to use their voting power to bring the two main companies who are at the centre of the dispute back to the negotiating table.

He says Sam Lewis of AFFCO has clearly stated that the two South Island companies must sort out their problems before the rest of the industry will join them around the table.

“What concerns me is why one company who was in favour of amalgamation is now opposed to the idea. Farmers are hurting yet, when a positive suggestion to unite the industry for the good of all is tabled, it breaks down and we revert to the system that is failing to deliver. We need coordination not disintegration.

“Federated Farmers’ view is that the share holders of any company are the catalyst to that company’s future and that they are the people to make policy for the company and ensure that any solution is commercially driven.

Keith Kelly says the onus for ensuring the restructuring process continues, now reverts to the Meat Industry Task Force which was set up using farmers levy money.

He says the Meat Industry Task Force must now be the driving force to get the mega-merger going again.

Federated Farmers, as the voice of farming in New Zealand, remains willing to facilitate the initiative in any way possible.

ENDS

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