Elders mum on PGW
Australian rural services company Elders has downplayed media speculation it is raising funds for a buyout of New Zealand’s largest agricultural services company PGG Wrightson (PGW).
Longtime Elders New Zealand managing director Stu Chapman will later this month leave the business he started.
Following the Carr Group’s acquisition last August of Elders New Zealand – recently rebranded as Carrfields – Chapman, once a shareholder in the Elders agribusiness, agreed to continue in the MD role during the sale and management handover.
He will finish at Elders on August 14 but remain a director of Elders Primary Wool, comprising NZ Yarn, Wool Exports NZ and Wool Marketing Enterprises (Just Shorn). He will also remain a director of Elders International NZ Live Export, a joint venture with Elders Australia.
Chapman has spent 21 years with Elders NZ, growing the business into a market leader particularly in livestock and wool.
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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