Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
New Zealand-based Fonterra and Netherlands-based A-ware Food Group have given the green light to develop a new cheese plant and dairy ingredients plant in Heerenveen in the north of the Netherlands.
Fonterra chief executive Theo Spierings and A-ware Food Group chief executive Jan Anker have today confirmed the partnership would proceed and signed a final agreement.
Under the agreement a greenfields site will be developed where A-ware will operate a cheese plant and Fonterra will operate a dairy ingredients plant alongside it.
Cheese will be produced for A-ware's customers in Europe and the whey and lactose produced will be processed into premium nutrition dairy ingredients for Fonterra's global customer base.
Construction of both plants is scheduled to be completed in late 2014.
The investment fits well with the strategic priorities of both companies, says Spierings.
"Fonterra has substantial intellectual property in the manufacture of functional whey protein ingredients and has been looking for some time for a source of high quality whey to enable it to commercialise these innovations for customers around the world."
Anker says the partnership will build on A-ware's reputation as a significant provider of premium cheese in Europe with a strong history and network.
"A-ware is well placed to integrate the new cheese plant into its supply chain so it can expand its service offering with increased flexibility for a growing customer base in Europe."
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.