Posts tagged "Fonterra"

US stance on Iran won’t apply to NZ – David Parker

[8 August/Radio NZ] The Government is confident the U.S’s stance on firms doing business with Iran would not apply to New Zealand. President Trump re-imposed sanctions against Iran and suggested other nations should follow his lead. He added those who didn’t would not be able to do business with the U.S. Trade Minister, David Parker,...

Fonterra reaches settlement with muzzled ex-director Leonie Guiney

[13 August/Stuff] The Fonterra board and former director, Leonie Guiney, have reached a settlement in their legal proceedings. The board said it had agreed to settle the proceedings and Fonterra agreed to meet her costs. In March, an injunction against Ms Guiney talking to media was ordered. The judge said at the time that there...

Fonterra taps into psychology of shoppers in attempt to boost sales

[10 August/Stuff] A research division at Fonterra is developing tools to push customers into buying its products. It said the division would tap into the minds of consumers in a way that would shape the future of commerce. It used psychology and neuroscience to increase sales and improve marketing strategies. Fonterra Sales and Marketing Disruption...

High debt, low margins force Fonterra to cut back milk price, dividend

[10 August/NZ Herald] High debt and lower margins has forced Fonterra to reduce its farmgate milk price for the season just ended. It has also halted plans for a second half dividend. Fonterra said it would cut its 2017-18 milk price forecast by 5c to $6.70 per kg. This provides an $80 million benefit to...

Fonterra returns to India to form joint venture with Future Group

[9 August/NZ Herald] Fonterra is returning to the Indian dairy market to form a joint venture with Future Group. It said it had tied up with the Future Consumer, part of Future Group, to make a range of consumer and foodservice dairy products that would meet the growing demand for high quality dairy in India....

Fonterra, a2 Milk bury the hatchet

[3 August/NZ Herald] Fonterra and The A2 Milk Company have joined together to offer a jointly branded A1-free milk to New Zealand consumers. Fonterra had resisted the a2 Milk concept until now. The two companies have moved on from historic differences and formed a joint venture. They launched their first jointly branded product this week....

Fonterra chair John Wilson’s exit comes as shock to shareholder boss

[27 July/NZ Herald] Fonterra Chairman, John Wilson, has decided to step down after a serious health scare. This was a shock to the industry. Fonterra announced he would remain a director on its board until its annual meeting in November although would stand down from the chair immediately. The co-op said Mr Wilson had undergone...

Anti-coal group protests outside Fonterra’s Auckland office

[26 July/NZ Herald] There was a small protest outside Fonterra’s head office by the Auckland by Coal Action Group over the co-op’s continued use of coal in manufacturing processes. Spokesman, Peter Whitmore, said Fonterra had not done enough to wean itself off coal, despite having joined the Climate Leaders Coalition group. Fonterra was New Zealand’s...

Zespri chairman takes top award but coy on Fonterra directorship

[26 July/Stuff] Zespri Chairman, Peter McBride, received the industry’s Bledisloe Cup. It is horticulture’s premier award. His involvement with the kiwifruit industry spanned almost 40 years. He said it was a great honour to be recognised and humbling. He remained coy about suggestions he has put his name forward to stand as a Fonterra director....

Zespri chairman Peter McBride ponders Fonterra board contest

[22 July/The Country] Zespri Chairman, Peter McBride, could be in the running in this year’s Fonterra elections. He has been urged by Fonterra shareholders to stand for the board of the company. There was no knowledge whether current Chairman, John Wilson, would seek a fifth term. If he seeks re-election, his name would not be...

Leveraging Maori agribusiness economy

[19 July/NZ Herald] General Manager of Maori Strategy at Fonterra, Tiaki Hunia, has been traveling  for 11 months talking to Maori suppliers and to ensure they felt part of the co-operative, that sound communication channels were in place, and that they had the support and capacity to grow their businesses. Maori were reported to own...

Fonterra’s Aussie farmers complain Kiwi counterparts get the cream

[13 July/Stuff] Fonterra’s Australian dairy farmers are queuing up to supply the New Zealand co-operative with their milk. The amount of milk Fonterra Australia has collected increased by 400 million litres from last season, however Australian dairy farmers say they are annoyed they are being paid less than New Zealand farmers. They were paid $6.19...

Fonterra ‘humming’ in Greater China – Zhu

[11 July/NZ Herald] Fonterra’s top executive in China, Christina Zhu, said Fonterra’s business in China was going well despite challenges with the investment in Beingmate. Bao Xiufei had been appointed as the new General Manager for Beingmate, which Fonterra saw as a step in the right direction. Ms Zhu explained the difference between having an...

Mackenzie Basin: Fonterra dairying criticism rejected

[4 July/Radio NZ] Dunedin businessman, Murray Valentine, was behind the planned mega dairy conversion in the Mackenzie Basin. He was rejecting criticism from Fonterra about further intensification of the vulnerable landscape. He was originally granted consent for 15,000 cows but planned to put 2,000 on it by next year. Greenpeace campaigners chained themselves to heavy...

Dairy prices slump 5% in worst fall this year

[4 July/NBR] Dairy prices fell 10 percent at the Global Dairy Trade auction. This auction marked the 10th anniversary since it started. Whole milk powder fell by 7.3 percent which was the largest decline. Prices were under pressure due to the total volume sold increasing. Fonterra’s latest production update reported a 6.6 percent increase in...

Another big costly whole-milk powder plant off Fonterra’s menu

[1 July/NZ Herald] According to Fonterra Chief Operating Officer, Kelvin Wickham, the co-operative is unlikely to need to spend large on another whole milk powder plant for a long time. He confirmed that the Lichfield milk powder dryer was only used over the peak three to four months of the dairy year just ended. He...

Fonterra hopes new Beingmate general manager will transform company

[2 July/Stuff] Fonterra’s Chinese partner Beingmate has appointed a new general manager. Fonterra’s Chief Executive, Theo Spierings, welcomed the move as a signal of the company’s transformation. Fonterra wrote off $405 million of its $750 million investment in Beingmate earlier this year. The new general manager is Bao Xiufei (Bob). Mr Spierings said they knew...

Air New Zealand’s Christopher Luxon makes call on top job at Fonterra

[26 June/NZ Herald] Air New Zealand Chief Executive, Christopher Luxon, said he was not interested in the top job at Fonterra and remained committed to the airline. There had been speculation on whether he would move to Fonterra after the resignation of Theo Spierings. He said he was aware of the speculation on the subject...

Fonterra adds new beverage division

[21 June/Dairy Reporter] Fonterra is adding a new channel to its global foodservice business, Beverage House, to capitalise on an increased global demand for adventurous tea and coffee drinks. Beverages made with yoghurt, topped with cream cheese and mixed with creams were growing in popularity, leading to this new division. Fonterra said almost 600 million...

Winston Peters pins $2B-plus ‘losses’ to NZ on Fonterra

[18 June/NZ Herald] Deputy Prime Minister, Winston Peters, said the country’s largest business, Fonterra, was costing the economy more than $2 billion from food safety and animal welfare scares. He added we would not become a great, first world trading nation until we faced some blunt commercial facts, and that he believed in commercial accountability....

Fonterra powders earn premium price over rivals’ same products: chairman

[13 June/NZ Herald] Fonterra Chairman, John Wilson, said its dairy ingredients were selling for $100 to $400 per tonne more than the same milk powder products of its competitors which could significantly boost the milk price. He added its Trusted Goodness quality seal marketing initiative was responsible for the price spike which was noticeable on...

Van der Heyden backs Fonterra chairman John Wilson after Shane Jones calls for resignation

[14 June/NZ Herald] Former Fonterra Chairman, Sir Henry van der Heyden, has given his backing to the current chairman of the co-op, John Wilson. He said no New Zealand farmer would argue with the current milk price forecast in response to comments from Regional Development Minister, Shane Jones, who said the company should stop being...

Fonterra’s milk price calculations higher than competition – Commission

[14 June/NZ Herald] The Commerce Commission said Fonterra’s estimated risk in calculating the cost of financing milk processing operations was too low, which resulted in it calculating a higher milk price than its competitors. The cost of financing feeds into the calculation of the milk price Fonterra paid its customers. Commerce Commission Deputy Chair, Sue...

Massive fund manager BlackRock reveals 5 per cent holding in a2 Milk

[7 June/NZ Herald] One of the world’s biggest fund managers, BlackRock, emerged as a significant shareholder in the a2 Milk Company with a 5 percent stake. It said recent purchases took it over the 5 percent threshold, meaning it was required to declare its stake. A2 Milk Company became New Zealand’s largest listed company earlier...