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

 


Realignment of Fonterra and Nestlé’s Latin American Alliance

4 August 2014

Realignment of Fonterra and Nestlé’s Latin American Alliance Takes Effect

The first step in the realignment of Fonterra and Nestlé’s Latin American alliance has taken effect.

As announced in May this year, Fonterra and Nestlé have revised their 10-year-old Dairy Partners Americas (DPA) joint venture to better reflect each company’s respective strategies.

Fonterra now has a 51 per cent controlling stake in DPA Brazil, with Nestlé holding the balance; and, together with a local partner, Fonterra has taken over Nestlé’s share of DPA Venezuela.

Fonterra’s Managing Director of Latin America, Alex Turnbull, says: “This is an exciting next step for Fonterra and the people in these businesses as they are formally welcomed to the Co-operative.”

“We are looking forward to continuing our strong relationship with Nestlé, while giving us the opportunity to further drive our volume and value growth strategy focusing on everyday nutrition offerings.”

“The changes we have made are aimed at making our businesses in Brazil and Venezuela even stronger.”

Fonterra’s Latin American footprint drives more than 900,000 metric tonnes of volume per year and $3.5 billion (NZD) in revenue from our consumer dairy, foodservice and dairy ingredients.

The other changes to the DPA alliance including Nestlé taking control of DPA Ecuador and the DPA milk powder manufacturing businesses, are still subject to regulatory approval and due to be completed by the end of the year.

About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.

The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our more than 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news