Posts tagged "Fonterra Co-operative Group"

Rewards for top quality milk

[16 April/Rural News] Farmers who supply high quality and safe milk to Fonterra Co-operative will now be recognised. Its new programme The Cooperative Difference will award farmers plaques, certificates and publicity in the co-op’s publications. Fonterra is also signalling a tougher stance on farmers who persistently fail to meet minimum standards of sustainability as it...

Fonterra strategy themes emerge

[05 April/Farmers Weekly] Brent Goldsack, Director of Fonterra Co-operative announced the company’s strategic review is under way and themes are emerging. Fonterra is planning for future generations with its first theme being that Fonterra is a globally competitive NZ co-operative. The second theme places sustainability at the heart of everything the company does. Third is...

Fixed milk price details given

[29 March/Farmers Weekly] Fonterra Co-operative farmers will be offered a fixed milk price (FMP) option for the first time on June 10 and 11, after the Global DairyTrade auction. The new scheme will operate monthly for up to seven months in the initial season followed by three 2021 pre-season opportunities. Farmers can apply to fix...

First principles in strategy reset

[22 March/Farmers Weekly] Fundamental change to Fonterra Co-operative Group’s business strategies will be made as the co-operative aims at refocusing at the principles of co-operative farmer ownership, efficient milk collection and processing and exports of dairy ingredients for premium prices. Chief Executive Miles Hurrell stated that farmers want to see Fonterra extract the returns that...

Miles Hurrell appointed Fonterra CEO on a base salary of $195 million

[05 March/NZ Herald] Miles Hurrell has been permanently appointed into the CEO position at Fonterra Co-operative Group, with a base salary of $1.95 million after a six month trial period. After the announcement of Mr Hurrell’s appointment, Fonterra’s share price rose 3 cents to $4.28. John Monaghan, Chairman of Fonterra reported that the board is...

Fonterra lifts milk-price forecast

[01 March/Otago Daily Times] Fonterra Co-operative Group has moved its 2018-2019 forecast up from $6.00-$6.30 to $6.30-$6.60. Chairman John Monaghan states this is reflective of global milk prices across the last quarter. Global demand has strengthened since Fonterra’s last price milk update in December with stronger demand from Asia. Fonterra also revised its forecast earnings...

Guiney, McBride win Fonterra board seats

[6 November/Rural News] Outgoing Zespri Chairman, Peter McBride, and South Canterbury farmer, Leonie Guiney, have both been voted by farmers onto the board of Fonterra Co-operative Group. The third vacancy has been left unfilled with none of the other candidates receiving a 50% favourable vote from farmers. The result means that sitting director, Ashley Waugh,...

Fonterra Australia opens new cheese factory for domestic and export market

[18 August/Stuff: NZ Farmer] Fonterra Australia has opened a new cheese plant at Stanhope in Victoria two and a half years after the plant was destroyed in a fire. The $149 million plant will make a range of hard cheeses including cheddar, parmesan, mozzarella and romano for the Australian and New Zealand market as well...

Fonterra plans new investment in China, Brazil and Europe

[2 February/ National Business Review] New opportunities for Fonterra Co-operative Group have arisen for the group across the globe. A strategic review is taking place over the key themes in its Velocity strategy, and strategic choices are being developed based on the co-operative’s view that New Zealand milk is dairy-demanded, and can grow at 2-3...

Fonterra to review governance structure

 [1 February/ NZ Herald] Fonterra Co-operative Group has started a review on whether a board made up largely of farmers has the correct skill set to drive a global business, and whether milk suppliers in other countries should be allowed to hold shares in the co-operative. The document to be put before the board will...

Dairy farmers milked dry as water price crisis bites

[19 October/ The Australian] Soaring irrigation water prices and water shortages in northern Victoria are forcing many farmers to sell cows and cut milk production despite ever-increasing Chinese demand for Australian products. Irrigation water prices have increased by around 400 percent, from AUD 80 per megalitre last year, to more than AUD 300. Prices are...

Palm kernel use hits record levels

[15 October/ Radio NZ Rural] In the year ending June 2015, New Zealand imported a record 1.95 million tonnes of palm kernel expeller. The use of the product has grown phenomenally in the last fifteen years when 4,000 tonnes was imported. Greenpeace said the use of palm kernel by the New Zealand dairy industry increases...

Hopes Fonterra Studholme consent will be notified by weekend

[19 October/ The Timaru Herald] The Waimate District Council has hoped to notify the public of the resource consents for Fonterra’s Studholme plant upgrade, this weekend. Fonterra had been asked to provide further information on its resource consent applications, with the council putting the application on hold until this information was received. Waimate Council Resource...

‘Health’ foods grow wealth

[15 October/ Dairy News] Massey University Food Scientist, Paul Moughan said the development of 10 to 20 health orientated products, such as Fonterra’s Anlene milk, will create significant wealth for New Zealand. Mr Moughan said Asian markets are welcoming health orientated products, exemplified by $800 million worth of sales of Anlene. Mr Moughan said the...

Fonterra board battle escalates

[15 October/ National Business Review] Former Fonterra Directors, Greg Gent and Colin Armer said they are disappointed with the response of Fonterra Chairman, John Wilson, to their proposal to reduce the co-operatives board from 13 to nine members. Mr Wilson said the proposal was not the co-operative way. Mr Wilson added that the board had...

Fonterra credit rating downgraded

[14 October/ Otago Daily Times] Standard and Poor’s has downgraded Fonterra’s credit rating from A to A-minus, after concerns of the co-operatives debt levels. Standard and Poor’s believed Fonterra’s risk profile has weakened over the past two years due to the company’s sizeable capital expenditure and debt-acquisition of Beingmate coinciding with high volatility in the...

Cool heads urged for Fonterra board elections

[27 July/ Business Day: NZ Farmer] New Fonterra Shareholders Council Chairman, Duncan Coull urged caution in the upcoming Fonterra director elections and said that they are not a popularity contest. Mr Coull said that while there is a feeling of distrust towards Fonterra, driven by the emotion of the low milk price, he suspected many...

Council gets Coull head

[20 July/ NZ Farmer Weekly] Fonterra Shareholders’ Council Deputy Chairman, Duncan Coull has been elected unopposed to replace current Chairman, Ian Brown, who stood down after three years. Mr Coull applauded Mr Brown’s work that guided the council through a pivotal time for the co-operative. Mr Brown will continue to represent South Waikato for the...

Fonterra wields the axe

[17 July/ NZ Herald] Fonterra is to axe 523 jobs in its first stage of restructuring its finance, human resources and information systems departments. The company’s second stage of restructuring will commence in August. ANZ Rural Economist, Con Williams said the impact of low dairy prices and job losses will have a big multiplier effect...

Fonterra’s rivals tell DIRA review there is insufficient competition for dairy industry deregulation

[14 July/ NZ Herald] Competitors of Fonterra have claimed that there is still insufficient competition to deregulate the industry, with rivals wanting the status quo or tighter regulations. Westland Milk Products said that Fonterra’s actions in response to competition, such as locked-in long-term supply agreements highlighted that the co-operative will use its position of dominance...

New Fonterra partnership opens up $2.7 billion market

[9 July/ Business Day: NZ Farmer] Fonterra has opened its first wholly owned and operated ingredients plant in Europe. Partnered with Dutch cheese manufacturer Royal A-ware, the plant is to process whey and lactose, increasing Fonterra’s ability to access a whey protein and lactose market which was worth more than $2.7 billion in 2014. Fonterra...

Disclose what Oz is costing us – Feds

[7 July/ Dairy News] Federated Farmers Dairy Chairman, Andrew Hoggard said every farmer should know how much they are paying per kilogram of milksolids to support Fonterra’s Australian operations. Mr Hoggard added that farmers know Fonterra has to pay a more attractive milk price in Australia to secure supply. Fonterra announced an opening milk price...

Norgate – visionary and deal-maker

[8 July/ NZ Herald] Former Fonterra CEO, Craig Norgate sadly passed away in London last week, with many former colleagues, competitors and friends celebrating his success. Mr Norgate was a key figure in the merging of Kiwi Cooperative Dairies and the NZ Dairy Group into Fonterra, and became the co-operative’s inaugural CEO. Mr Norgate was...

Fonterra eyes long-term guaranteed milk price deals

[6 July/ Business Day: NZ Farmer] Fonterra is to entertain the possibility of offering longer guaranteed milk price contracts. Fonterra Head of Origination, Aaron Atkinson said numerous milk suppliers and current guaranteed milk price contract takers, such as Landcorp and Shanghai Pengxin, supported the idea of longer contracts. Milk New Zealand Chief Executive, Andy Macleod...