Food Processing

Tatua takes lead in payouts

Tatua takes lead in payouts

Last year, two smallest dairy co-operatives of New Zealand offered highest and lowest milk prices. Tatua Co-operative Dairy Company took the lead with its payouts for 2008-09 standing at $5.38 a kg of milk solids.

Dairy workers rules out sabotage

James Ritchie, National Secretary, New Zealand Dairy Workers Union

The locked-out Waikato dairy factory workers claimed that they were never involved in environmental sabotage activities as alleged by their employer. Meanwhile, an Employment Court also termed their lockout illegal, but the company failed to give any respite to thirty-eight workers at the Open Country Cheese plant in Waharoa.

James Ritchie, national secretary of Dairy Workers' Union, termed the charges made by company baseless. He asked the authorities to produce credible evidence of sabotaging the operation in support with the charges.

Dairy workers to resume work

Dairy workers to resume work

The willingness to go back to work this evening was expressed by the workers of dairy company Open Country Cheese near Matamata. The workers have been on strike from quite sometime now, and a hearing in the Employment Court has been pended for later in the week.

It was specified by the Dairy Workers Union that staff will return to the plant at 6pm. The Dairy Workers Union, which represents workers at the Waharoa site, said that though the urgent Friday hearing into whether illegal replacement labor is being used by the company is pending, they will return to work.

SFF extends share, cash issue deadline till October 9

Silver Fern Farms

Silver Fern Farms (SFF) has announced a three-week extension, until October 9, for its share exchange and cash issue offer. The firm has already sold 37 per cent stakes, as per Eoin Garden, the Chairman of meat co-operative. The firm will use the raised funds for reducing debt burden, introducing new supply chain and making investment in new technology.

NZ's Fonterra to sell stakes to farmers

NZ's Fonterra to sell stakes to farmers

The New Zealand-based world's biggest dairy exporter, Fonterra Ltd is planning to sell stakes worth NZ$1 billion to its farmer stakeholders in a bid to strengthen its balance sheet. Plans to divest some non-core assets are also on anvil by the co-operative, contributing 7 percent of New Zealand's gross domestic product.

Henry van der Heyden, Chairman of Fonterra Ltd said: "The options we are discussing with farmers would strengthen the capital structure and make Fonterra more adaptable and competitive in the international marketplace."

10c margin on Fonterra milk cleared

Fonterra

Roads have been cleared for Fonterra Cooperative Group to impose a 10c premium on each kilogram of milk solids which it sells to other dairy companies, with Agriculture Minister David Carter having given his nod to the firm.

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