Tuesday, 31 May 2022 09:55

Fonterra on track to deliver $1bn capital

Written by  Staff Reporters
Fonterra chief financial officer Marc Rivers. Fonterra chief financial officer Marc Rivers.

Fonterra remains on track to deliver around $1 billion of capital to farmer shareholders and unit holders in two years.

The co-op is continuing the ownership review of its Australian business and the divestment for its Chilean business, Soprole, is underway.

Fonterra chief financial officer Marc Rivers says both processes are running smoothly.

He expects a lot of interest in the Soprole business which has been performing strongly.

The Australian business review is more complex, he says, given its connection to Fonterra's New Zealand business.

Rivers says the co-op is not rushing to make a decision on both businesses.

"We're taking our time to ensure the best outcomes for both businesses and remain confident on delivering on our intention to return to our shareholders and unit holders by FY24," he says.

More like this

Power plant to close

Energy company Contact is closing its 44-megawatt Te Rapa power station in June next year.


Yili tops tally

Chinese dairy giant Yili topped the tally at the World Dairy Innovation Awards held recently in France.

Deer milk wins global award

Deer milk made by state-owned farmer Pāmu has won the ‘Best Dairy Ingredient’ category at the prestigious World Dairy Innovation…

DWN secures state funding

A Dairy Women’s Network (DWN) programme has been named as the recipient of two years of funding support from the…

Machinery & Products

Beauvais hits one million!

Massey Ferguson recently announced that its Beauvais factory in France has produced its 1,000,000th tractor, having started manufacturing tractors on…

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Tinder for cows!

OPINION: Irish farmers can now swipe right on a tinder type dating app for cows!

Cow and cars

OPINION: Cows are the favourite target of vegans, Greenpeace, the Green Party and plant-based food advocates.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter