fbpx
Print this page
Wednesday, 14 March 2018 11:53

$20 million LIC bill 'worthwhile'

Written by 
LIC chairman Murray King. LIC chairman Murray King.

LIC chairman Murray King has defended the $20 million bill for its transformation process.

King told a special general meeting in Hamilton today that the cost was “absolutely worthwhile”.

“It is a big number but it’s not just a fee to consultants: it has to be earned,’ he told the meeting.

The transformation cost is a one-off, he says.

The process looked at the business and recommended changes to make it more efficient.

The process was preceded by the cooperative being split into two parts: herd improvement and agri-tech.

The cooperative also ditched its $1 billion revenue target. “It was a poor choice on reflection,” King says.

More like this

Helping heifers grow

Dairy farmers can easily track the performance of their replacement heifers and ensure they reach their genetic potential.

Next generation of DNA testing

Herd improvement co-operative LIC is combining its DNA parentage testing and genomic evaluation services into one convenient service to help farmers identify their highest genetic merit animals.

New dam could signal end of dairying on the plains

Waimea Irrigators chairman Murray King has welcomed the effective completion of a major dam, which is expected to give irrigators and other users on the Waimea Plains reliability of supply for decades to come.

Featured

Rural Change to merge with RST

The Rural Change programme, providing free private mental health professional sessions to the rural industry, is set to continue its next chapter within Rural Support Trust from 1 July 2024.

Strong growth in farm salaries - report

A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.

National

Celebrating success

The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole…

Machinery & Products

Factory clocks up 60 years

There can't be many heavy metal fans who haven’t heard of Basildon, situated about 40km east of London and originally…

PM opens new Power Farming facility

Morrinsville based Power Farming Group has launched a flagship New Zealand facility in partnership with global construction manufacturer JCB Construction.