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LIC chairman Murray King.
Farmer co-op LIC will hold meetings nationally next month to brief shareholders on its ambitious growth strategy.
The update will include a timeframe for possible capital requirement to deliver on the strategy; the co-op aims to achieve $1 billion in revenue by 2025.
LIC chairman Murray King says the co-op has a strong balance sheet to fund growth.
He ruled out any plans to list the co-op.
“We reaffirm that LIC will remain a co-operative,” he told Dairy News. “That is sacrosanct; a public listing is not on my agenda.”
King and LIC chief executive Wayne McNee will address the nine farmer meetings, allowing the board and management to meet shareholders face-to-face.
“We haven’t done a roadshow for a long time; the last one was in 2008 when genomic was launched. The business strategy is ambitious and we will give farmer shareholders an update of where we are, especially our international business plans.”
In his letter to shareholders, King said the co-op wanted “an early discussion with you, our shareholders, on the service and solutions we have in development, progress with acquisitions which fit our strategy, and funding options for LIC over the next few years”.
“There is no ‘burning issue’. However, we do want to give you this opportunity to join us in discussing the direction of your co-operative in an open session,” he told shareholders.
The roadshow will also include an update on the Minda and Farm Performance Software.
LIC chief executive David Chin says meeting the revised methane reduction targets will rely on practical science, smart technology, and genuine collaboration across the sector.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
Academic and former Fonterra director Nicola Shadbolt has been elected as LIC director.
Acclaimed fruit grower Dean Astill never imagined he would have achieved so much in the years since being named the first Young Horticulturist of the Year, 20 years ago.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
