Natural Dairy (NZ) Holdings Ltd

Natural Dairy (NZ) Holdings Ltd

In reaction today to the receivers’ statement regarding the failed Landcorp bid on the Crafar properties, Natural Dairy Vice Chairman Graham Chin again stressed that UBNZ/Natural Dairy has a signed sale and purchase agreement for the farms, conditional on the approval of the Overseas Investment Office.

Mr Chin says, “I am confident our purchase of these farms offers the best deal not only to the receivers and creditors of the Crafar portfolio but to New Zealand in terms of more jobs, increased export revenues, taxation and an overall boost to the agricultural sector and rural industries. Natural Dairy will engage skilled New Zealanders to manage and run these farms.”

“People need to keep a sense of proportion,” says Mr Chin. “In the last 12 months the OIO has approved the sale of 80,000 hectares of land to foreign interests, our OIO application only relates to the purchase of just 8,615 hectares out of more than 2 million hectares of dairy farmland in New Zealand. It involves only 25,000 cows in a national herd of around 5 million cows.”

Natural Dairy now awaits the decision of the Overseas Investment Office and the government ministers concerned.

ENDS

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