Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Fonterra wins supply contract with Woolworths in Victoria

Fonterra wins 10-year contract to supply Woolworths in Australia’s Victoria state

April 3 (BusinessDesk) – Fonterra Cooperative Group, New Zealand’s dominant dairy exporter, has won a contract to supply Woolworths home-brand milk in the Australian state of Victoria for the next 10 years, wresting the previous one-year supply agreement off Japanese Kirin-owned Lion.

Fonterra’s Australian unit will early next year commission a A$30 million upgrade to its Cobden milk processing plant in Victoria to support the contract for 67 million litres of milk a year from local farmers, the companies said in a joint statement.

Woolworths and its smaller supermarket rival Coles, owned by Wesfarmers, are offering longer contracts to suppliers, giving milk processors and farmers greater certainty for investment. Fonterra, which counts Australia as its second-largest milk pool outside of New Zealand, said the investment in Victorian plant will support 30 new jobs.

Woolworths sells about 330 million litres of milk a year through its Select home brand range, which retails at A$1 a litre.

Fonterra’s Australian sales were worth $847 million in the six months ended Jan. 31, compared with total sales of $11.3 billion.

Fonterra and Woolworths are finalising contractual arrangements, the companies said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news