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Silver Fern Farms chief executive Dean Hamilton says its capital structure has held back growth.
Hamilton says the co-op doesn't have the right strategy to execute its pasture-to-plate strategy.
"We set out on a journey 12 months ago to raise new equity to fix situation once and for all," he told shareholders at a special general meeting in Dunedin today.
Hamilton says only 5% of SFF products are premium high value products.
He says the extra capital to be poured in by Chinese conglomerate Shanghai Maling will help SFF execute the strategy.
"The strategy is to drive more business up the value chain and increase returns and share it with qualifying suppliers."
Shareholders are voting on the Shanghai Maling proposal today.
Silver Fern Farms chief executive Dan Boulton says the meat processor wants to find ways of getting product destined for Middle East markets into those markets as opposed to try and place them elsewhere.
Additional tariffs introduced by the Chinese Government last month on beef imports should favour New Zealand farmers and exporters.
The second event in the Silver Fern Farms ‘Pasture to Plate Roadshow’ landed in Feilding last week, headed by chair and King Country farmer, Anna Nelson, and chief executive Dan Boulton.
Keep up with innovation and e-commerce in China or risk losing market share. That was the message delivered at the China Business Summit in Auckland this month.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
While the District Field Days brought with it a welcome dose of sunshine, it also attracted a significant cohort of sitting members from the Beehive – as one might expect in an election year.
Irish Minister of State of Agriculture, Noel Grealish was in New Zealand recently for an official visit.
While not all sibling rivalries come to blows, one headline event at the recent New Zealand Rural Games held in Palmerston North certainly did, when reigning World Champion Jack Jordan was denied the opportunity of defending his world title in Europe later this year, after being beaten by his big brother’s superior axle blows, at the Stihl Timbersports Nationals.
AgriZeroNZ has invested $5.1 million in Australian company Rumin8 to accelerate development of its methane-reducing products for cattle and bring them to New Zealand.
Farmers want more direct, accurate information about both fuel and fertiliser supply.
A bull on a freight plane sounds like the start of a joke, but for Ian Bryant, it is a fond memory of days gone by.
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