Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Fully owned by Fonterra, RD1 stores are stocked with farming essentials at everyday low prices, with a special focus on dairy. RD1 Ruawai will also carry a range of home and backyard products to cater for the wider community.
RD1 general manager Nick Berry sees the move as very positive for farmers in the area as well as the local community. "Taking over this store ensures that RD1 can continue to support farmers with their business requirements.
"There are approximately 73 Fonterra suppliers in the area, so the acquisition supports RD1's current strategy to have services available to all Fonterra farmers," he says.
"RD1 will be employing the existing Ruawai Farm Supplies staff to ensure they are given the opportunity to stay in the community and their chosen field."
Shanelle Wray has been appointed store manager of the new RD1 store. Currently a team leader at RD1 Whangarei, Wray has been with RD1 for two years and looks forward to starting in her new position from February 20.
Ruawai Farm Supplies will cease trading on February 28, 2012. It will re-open as RD1 on Thursday, March 1.
