Posts tagged "Blue Sky Meats"

Decision made on fate of defunct Gore meat plant

[9 July/Rural Life] Blue Sky Meats decided to sell its Gore plant which had been non-operational since 2016. The company announced it was reviewing options for the unprofitable plant last year. The company said the decisions was not made lightly but it felt it was the best course of action to take. Its annual report...

Dry conditions put pressure on processing plants

[18 December/NZ Farmer] Meat processing plants across the country are working at capacity to accommodate an influx of stock caused by the dry weather the country has experienced in the last six weeks. Alliance Group said the company has been working through drought scenarios and had got all their plants up and running at full...

Blue Sky Meats posts $1.9m loss, signals review of unprofitable Gore beef plant

[31 July/ National Business Review] Blue Sky Meats posted a $1.91 million loss in the 12 months ended 31 March, compared to a $1.96 million loss a year earlier, and said the future of its unprofitable beef plant in Gore is under review. Revenue decreased 17 percent to $97.9 million and the company will not...

Blue Sky board reviewing options

[30 June/ NZ Herald] Whether Blue Sky Meats’ Gore plant will reopen this year is dependent on whether the beef processing plant can make a significant profit. The processing plant paused late last year because of low financial margins, and Blue Sky Meats Chief Executive Todd Grave said whether the plant would reopen any time...

Blue Sky Meats to seek new capital

[10 April/ Farmers Weekly] Blue Sky Meats seeks new capital to fund a new business plan after the failed takeover by NZ Binxi. NZ Binxi, who had a 13 percent shareholding in Blue Sky, announced its disappointment at the failed takeover, saying its decision rested on a material change in Blue Sky’s forecasted profits, and...

Blue Sky supports offer

[8 February/ Otago Daily Times] The Board of Blue Sky Meats is recommending that shareholders accept the $2.20 a share offer from NZ Binxi (Oamaru) despite having previously indicated that they believed that a $2.50 a share price was more reflective of the value of the company.  NZ Binxi had indicated that it would not...

Blue Sky Meats shareholders told to wait for more information on Binxi takeover

[8 December/ National Business Review] Blue Sky Meats has advised shareholders to wait for more information from the board of directors on the future prospects of the meat processor before deciding whether to accept a takeover offer from Heilongjiang Binxi Cattle Industry Co. NZ Binxi Foods, a subsidiary of the Chinese company, was offering $2.20...

NZ Binxi offers to buy all of Blue Sky

 [9 November/ Otago Daily Times] NZ Binxi Foods has made a $25.3 million takeover offer for 100 percent of Blue Sky Meats after the Invercargill meat processor sought expressions of interest from buyers. Binxi’s offer of $2.20 per share was 70 percent higher than Blue Sky Meats’ current share price of $1.30. Blue Sky Meats...

Age ousts three directors

 [20 October/ Otago Daily Times] Three directors of Blue Sky Meats have been forced to step down from the board of the company due to a clause in the company’s constitution prohibiting any individual from being a director once they reached the age of 65. One of the directors forced to stand down was Blue...

Clouds loom over Blue Sky’s horizon

[18 July/ Farmers Weekly] Blue Sky Meats Chairman, Graham Cooney said he was not sure whether the expansion into beef processing would be supported by farmers. Blue Sky bought into a beef processing plant in Gore after its suppliers had indicated that they would supply other species, such as venison, if the company could cater...

Blue Sky Meats annual profit sinks 36%, under-used plant blamed [29 June/ National Business Review]

Blue Sky Meats reported a 36 percent drop in annual profit, falling from $1.9 million to $1.2 million, for the year ending 31 March. The company also reported a 7.2 percent increase in revenue, to $102.1 million. Blue Sky Meats Chairman, Graham Cooney said the fall in profit was down to the underutilisation of its...

Blue Sky Meats partners with Duncan NZ [26 May/ The Southland Times]

Blue Sky Meats General Manager, Ricky Larsen said his company’s joint venture with Duncan NZ gave further support to the Meat Industry Excellence group’s call for restructuring of the meat industry. Mr Larsen said the partnership was a benefit to the company by enabling them to offer a wider service and provided significant synergies for...

Blue Sky to buy Clover

[5 December/ NZ Herald] Blue Sky Meats has agreed to acquire the Gore based Clover Export, which will add to its processing capacity in beef and venison. The deal includes an agreement by Blue Sky to continue with Clover’s horsemeat processing on a toll basis for sale in the European market. Blue Sky Meats chairman,...

Red meat reformers take pulse of the South

[20 August/ Otago Daily Times] Meat Industry Excellence principal adviser and Waikato business leader, Ross Hyland, said that the number one problem in the meat industry was probably the capacity issue. Meat Industry Excellence chairman, John McCarthy said that when its business model is released, it will have a vision of providing farmers a way...

Blue Sky Meats back in black

[20 June/ Rural News] After almost three years of turmoil, Blue Sky Meats has reported an after tax profit of $1.95 million for the year ended 31 March 2014, a turnaround from $3.88 million loss in the prior year. Chairman, Graham Cooney, predicts its result is a bell weather for the sector, saying he expects...

Board appointed for Red Meat partnership

[15 May/ Rural News Group] The Red Meat Profit Partnership established through a red meat sector and Government collaboration to increase sheep and beef farmer productivity and profitability has been established as a limited partnership, with its appointment of the board of directors also completed. The programme is co-funded by partners including the Alliance Group,...

Alliance look at Blue Sky revealed

 [23 December/ Otago Daily Times] Alliance Group has confirmed in a recent email to suppliers that it entered into negotiations over a potential purchase of Blue Sky Meats and that the negotiations ended amicably without any agreement.  Alliance CEO, Grant Cuff, said that Alliance frequently considered potential business opportunities and the company had no plans...

Strong balance sheet helps Blue Sky Meats

 [16 July/ Business Day] A second loss has been recorded in the 27 year history of Blue Sky Meats’ with the result for the year ended March 31, 2013 sharing an after tax loss of $3.88 million. A loss of $449,149  was reported in the year to March 2012 and a profit of $3.69 million...