Passage Of Legislation
Friday, 21 September 2001, 10:14 am
Press Release: Fonterra Co-operative Group Ltd
Thursday 20 September 2001 For Immediate
Release
Passage Of Legislation
Fonterra Co-operative
Group Ltd has welcomed today’s passage of the Dairy Industry
Restructuring Bill.
“We thank all MPs who supported the
Bill to allow for the creation of Fonterra and all that we
want to achieve for our shareholders and New Zealand,”
Chairman John Roadley said.
The next steps in the process
towards the formation of the company are the Royal Assent by
the Governor-General and formal resolutions by the boards of
Kiwi Co-operative Dairies, New Zealand Dairy Group and
Fonterra Co-operative Group Ltd.
“The onus will then be on
Fonterra to deliver on the promises we have made, starting
with the more than $300 million in annual gains by the third
full year after the merger,” Mr Roadley
said.
END
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