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 will invest more than $100 million in a new UHT milk processing plant at its Waitoa site in the Waikato.
Fonterra chief executive Theo Spierings says the new plant would enable the cooperative to meet growing demand for UHT products in Asia.
"The new plant will enable us to increase our UHT production by 100% over the next few years," Spierings says. "The plant will include five new UHT lines that will produce a range of products including UHT white milk and UHT cream for the foodservice sector.
"Products from the new plant will be bound for Asia markets and that will allow us to concentrate all our domestic UHT production – including Fonterra Milk for Schools – at Takanini in Auckland."
Spierings says together with the construction opportunities and the creation of an additional 50 jobs, the development would provide new opportunities for Fonterra farmers in the North Island.
"Milk supply in New Zealand is seasonal because it follows the grass growth curve. However UHT production requires year round milk supply so we will be talking to our farmers about the opportunity for more of them to take up winter milk contracts. This will enable them to take advantage of the milk price premium that these contracts include.
"A recent survey of our farmers indicated that a good proportion of them in the Upper North Island would be keen to take up winter milk contracts," Spierings says.
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.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.