Open Country finalises acquisition of Miraka Limited
Open Country Dairy has finalised a deal to acquire 100% of Miraka.
Taupo-based dairy processor Miraka says it used Government funding to pay workers forced to stay home during the COVID-19 lockdown.
According to Ministry of Social Development’s website, Miraka was paid nearly $900,000 for 128 staff under the wage subsidy scheme announced for COVID-19 affected companies.
Miraka chief executive Richard Wyeth told Rural News that while the factory processed milk during the lockdown, its UHT lines were forced to close due to sluggish demand from China.
“While we kept the factory running, some aspects of our production were shut and staff remained home,” he says. “So, we applied to the scheme and used the money to pay those staff.”
Two other dairy companies – both Chinese-owned – also claimed the wage subsidy. Yashili NZ, which operates an infant formula plant at Pokeno, claimed $970,000 for 138 staff. Auckland-based GMP Dairy, majority-owned by China’s Evergrande Group, claimed $570,000 for 74 staff.
New Zealand’s largest dairy companies – Fonterra and Open Country Dairy- did not apply for the wage subsidy.
Meanwhile, in the meat sector Silver Fern Farms claimed $43m, Alliance $34m and Anzco $2.6m. However, neither Affco nor Progressive Meats have claimed any wage subsidy.
Alliance has announced a series of capital raise roadshow event, starting on 29 September in Tuatapere, Southland.
State farmer Pāmu (Landcorp) has announced a new equity partnership in an effort to support pathways to farm ownership for livestock farm operators.
Following a recent overweight incursion that saw a Mid-Canterbury contractor cop a $12,150 fine, the rural contracting industry is calling time on what they consider to be outdated and unworkable regulations regarding weight and dimensions that they say are impeding their businesses.
Trade Minister Todd McClay says his officials plan to meet their US counterparts every month from now on to better understand how the 15% tariff issue there will play out, and try and get some certainty there for our exporters about the future.
Brett Wotton, an Eastern Bay of Plenty kiwifruit grower and harvest contractor, has won the 2025 Kiwifruit Innovation Award for his work to support lifting fruit quality across the industry.