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.
Fonterra’s new $150 million cheese plant in Australia will help the co-op further capture the strong global demand for dairy, says chairman John Wilson.
“Australia is a global ingredients hub for Fonterra’s cheese, whey and nutritionals, complementing our consumer and foodservice businesses,” he says.
Wilson says the new Stanhope plant in Victoria will help meet the growing global demand for cheese that is being driven by a strengthening middle class in key markets.
“China alone is already a $4.6 billion market for protein, and is growing at four per cent per annum,” he says.
Victorian Minister for Regional Development, Jaala Pulford, joined Wilson, Fonterra leaders, local farmers and community members to officially open the new plant today.
The 18-month project saw over 7,500 tonnes of concrete poured, approximately 80 containers of equipment shipped, and over 330,000 man hours worked by more than 200 contractors to build the new cheese plant, which will be able to process up to 1.3 million litres of milk every day.
Fonterra Australia Managing Director René Dedoncker says the new plant will help to capture growing demand for cheese both domestically and across Asia, particularly in China and Japan.
“Fonterra is the leader in Australia’s $2 billion consumer cheese category, the market leader in foodservice, providing dairy solutions to chefs across Australia, and one of Australia’s top dairy ingredients exporters. The new Stanhope cheese plant helps us build on our market position, ensuring we have a sustainable business that delivers to everyone along the value chain.”
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.
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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.