PGG Wrightson buys Nexan Group for $20 million
Rural supply business PGG Wrightson Ltd has bought animal health products manufacturer Nexan Group for $20 million.
The IWG was charged with evaluating the dairy sector's genetic improvement progress and recently put forward recommendations to drive faster rates of genetic gain in New Zealand's dairy herd.
The IWG report said the current system for genetic gain in New Zealand was not fit-for-purpose and that, as a result, New Zealand's genetic herd had lagged relative to other advanced dairy industries.
Importantly, the IWG report noted its confidence that New Zealand can catch up to fully harness the benefits of genomics for faster genetic gain, unlocking increased profitability and improving environmental outcome.
Upon the report's release in July, DairyNZ, LIC and CRV all committed to making changes for the sector's benefit and will each participate in a newly established governance grup to take the report's recommendations forward.
The governance group met yesterday and identified six workstreams to action the report's recommendations, including:
- Establish a future looking National Breeding Objective
- Develop a solution to have one Breeding Worth Index
- Improve the volume and quality of phenotype collection
- Audit and validation
- Access international expertise
- Communication and broader extension on genetics and animal evaluation.
The governance group has commenced a process to appoint an independent chair for a two-year term, alongside an appointed project manager.
“The report clearly outlined how New Zealand can improve the rates of genetic gain and we are fully committed to ensuring that the recommendations are actioned to benefit the entire sector,” DairyNZ chief executive Campbell Parker says.
“We have had productive conversations about how we can implement the recommendations and are determined to work together and overcome sector challenges to ultimately deliver benefits to our New Zealand dairy farmers – through animals that are more resilient, profitable and easier to farm into the future.”
He says the governance group parties will work together to develop outputs that meet the needs of other stakeholders in the sector to access and participate in a one genomic breeding worth index.
He says they will also ensure they have the right reporting mechanisms set up for the workstreams for transparency and consistency, and an engagement plan is being developed to ensure all interested stakeholders can participate effectively in the governance group process.
The governance group will provide regular updates.
