increase font size
Singaporean conglomerate, Olam International has succeeded in a full takeover of New Zealand Farming Systems Uruguay.
Olam purchased 85.93% of NZFSU shares in July last year. However, the shareholding fell short of the 90% stake it needed to acquire to trigger a compulsory acquisition of the remaining shares.
On October 18 this year, the company made a full cash takeover offer for 75c/share for shares it did not own. The offer was accepted.
NZS was established in late 2006 with the objective of applying New Zealand's expertise in pastoral dairy farming to high quality, low cost and under-utilised farmland in Uruguay.
The company is the largest single producer of milk in Uruguay, accounting for approximately 6% of national production. The company's medium term plan projects it to be milking 48,000 cows and producing approximately 17% of the total milk currently produced in Uruguay by the 2013-14 season
It has completed the construction or upgrading of 30 dairy sheds, 62 farm workers' houses, 11 irrigation dams, 470km of roading, and reticulation of 65km of high tension wiring for electricity supply required for dairy shed and irrigation pump.
OPINION: You would've missed this one if you rely on mainstream media for your news, but your old mate reckons credit should go where credit's due: Emissions by dairy cattle decreased by 1.6% according to the latest NZ Greenhouse Gas Inventory report.
Only this season’s $10/kgMS bumper payout has saved some dairy farms along the Taranaki coast from absolute disaster due to the present drought – dubbed as one of the worst ever for some.
New Zealand’s top cheeses for 2025 have been announced and family-owned, Oamaru-based Whitestone Cheese is the big winner.
New Zealand’s special agricultural trade envoy Hamish Marr believes the outlook for the dairy sector remains strong.
This season's dry conditions have made one thing clear: not having enough feed on hand can bring your season to an early close.
With an amendment to the Medicines Act proposing human medicines could be approved in 30 days if the product has approval from two recognised overseas jurisdictions, there’s a call for a similar approach to be applied to animal medicines.
The Government wants to make sure that rural communities get a level of service that people who live in cities often complacently expect.
As the New Zealand Government launches negotiations on a Free Trade Agreement with India, one Canterbury-based vegetable seed breeder is already benefiting from exporting to the world's fifth-largest economy.
Onenui Station on Mahia Peninsula in northern Hawke's Bay is a world first in more ways than one.
Horticulture NZ (HortNZ) is encouraging growers with leadership aspirations to apply for its associate director role on the HortNZ board.
Fonterra is closing a milk powder blending and packaging site in Hamilton, a move that will affect 120 jobs.
OPINION: You would've missed this one if you rely on mainstream media for your news, but your old mate reckons…
OPINION: With the Government applying some fiscal discipline to scientific research funding, this mutt thinks it might be timely to…
