Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra says it has a clear plan to return its Australian business to strong and sustainable profitability.
As part of the revamp, last week it announced a five year, multi-million dollar strategic agreement with Australian infant formula player Bellamy's to manufacture a range of new baby nutritional powders.
Fonterra managing director Oceania Judith Swales describes this as part of Fonterra's transformation of its Australian business.
"This is our strategy in action for Australia where we focus on the areas we can win in a highly competitive market to deliver the best returns," says Swales.
"We are actively growing our nutritionals business through strategic partnerships and agreements which will see the Darnum nutritionals plant move towards full capacity.
"Our Australian business has particular ingredients strengths in cheese, whey and nutritionals, complemented by our strong consumer and foodservice businesses; and today's announcement with Bellamy's Australia – one of the fastest growing infant formula companies – reaffirms our strength in nutritionals.
"The Darnum plant is a leading nutritionals plant in Fonterra's global network.
"Leveraging our Fonterra Research and Development Centre in Palmerston North – the largest dairy innovation centre in the southern hemisphere – we will bring innovation to the Darnum plant and the nutritionals market to capture growing demand."
Bellamy's is one of the fastest growing infant formula companies with strong brand recognition and expertise in the organic ingredient supply chain, the co-op says.
"Bellamy's has grown for many years and financial year 2014-15 has been exceptional, achieving revenue growth of 156% from the year prior; infant formula comprises 88% of Bellamy's sales."
The proposed move will help support the growth of Bellamy's Organic in Australia and abroad, says Swales.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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