From hope to optimism

8 September 2008

From hope to optimism

Federated Farmers Meat & Fibre chairman, Bruce Wills said sheep and beef farmers can now look forward to a future where meat and fibre is once again a sustainable and profitable business. He made the comments after the special general meeting of Silver Fern Farms today, where farming shareholders voted in favour of a proposed partnership with PGG Wrightson.

“I am pleased that initiative is being taken in an industry that has shown a reluctance to change. Farmers have voted for the benefits that an injection of capital and an integrated supply chain will deliver to the previously farmer-owned cooperative,” Mr Wills said.

“When this partnership was first proposed, I made the comment that it may be the catalyst the industry needs to move forward. With the partnership now a reality, the onus is firmly on the farmer suppliers of Silver Fern Farms to support the new venture. If this can be achieved, it should ensure that the partnership is the first step towards further consolidation of the meat industry.

“Sheep and beef farmers want to believe in their industry and farmers can now move beyond hope to optimism. Farmers will keenly look forward to the realisation of the financial benefits that should accrue from the projected increases in operating efficiency and other synergies that drove the proposal,” Mr Wills said.

ENDS

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