Open Entry and Exit assured
Fonterra Chairman Henry van der Heyden today responded to a statement by Open Country Dairy and said Fonterra will always have open entry and exit for its farmers.
“It is inconceivable to think that anyone would suggest otherwise. It is simply out of the question. Our farmers will always be able to come and go as they please and be able to buy and sell their shares.
“This was a key principle in the foundation of Fonterra. It’s not going to change.”
“What Open Country Dairy is really worried about is Fonterra strengthening its financial position so that it can be more competitive in the global food market, and improve returns for Fonterra farmers in future years.
“Ultimately any refinement to Fonterra’s capital structure that helps improve farmer returns will be a positive move, not just for our farmers but for the whole of New Zealand,” Mr van der Heyden said.
About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.
The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.
