Fonterra closes two operations

NEW ZEALAND -Australasian Dairy Ingredients and Cottee Dairy Products are the first victims of Fonterra Co-operative Group’s rationalisation programme.

The two Sydney-based dairy ingredients trading operations account for less than 1% of New Zealand Milk Products’ (NZMP) business. NZMP managing director Chris Moller warned of further rationalisation to ensure that merger benefits and cost savings were realised. “We will continue to eliminate duplicated cost structures and inefficiencies as we move to create a unified organisation following the Fonterra merger,” he said.