Miles Hurrell
New plant for Fonterra’s Edendale site, creating 70 new jobs
Fonterra is set to invest $150 million to build a new UHT cream plant at its Edendale site in Southland to meet growing demand through its Foodservice business.
Fonterra moves two on executive team
Fonterra Co-operative Group has named two management team members to help lead the co-operative’s step-change in strategic direction and announced an executive team member moving into a new role.
Fonterra to move to B2B from consumer businesses
Fonterra Co-operative Group has announced it is exploring full or partial divestment options for some or all of its global consumer business.
Fonterra announces climate plans for the future
Fonterra has taken a significant step towards achieving its climate ambitions today with the announcement of an on-farm emissions reduction target, and release of a Climate Roadmap and voluntary Climate-related Disclosure report.
Fonterra and Nestlé complete sale of DPA Brazil
Fonterra Co-operative Group Ltd has confirmed that the sale of Fonterra and Nestlé’s Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis is complete.
Fonterra announces FY23 annual results
New Zealand dairy giant Fonterra announced its results for the financial year ending 31 July 2023, with full year reported earnings of 95 cents per share, reported profit after tax of NZ$1.6 billion and a final 2022/23 season farmgate milk price of $8.22 per kgMS.
Fonterra updates on business sale in Chile
CEO Miles Hurrell says he’s pleased to confirm approval from the competition authority, Fiscalía Nacional Económica (FNE), has now been received.
Fonterra’s COO Whineray to leave co-operative
Fonterra has announced its chief operating officer, Fraser Whineray, intends to resign from Fonterra at the end of this financial year on 31 July.
Fonterra upgrades earnings guidance and posts strong first quarter
Fonterra Co-operative Group upgraded its earnings guidance to 50-70 cents per share from 45-60 cents per share and lowered and narrowed its forecast farmgate milk price range of NZ$8.50-$10.00 per kgMS to $8.50-$ 9.50 per kgMS.
Fonterra announces divestment of Chile business
The divestment comprises a number of transactions that result in aggregate consideration of 591.07 billion Chilean Pesos (approximately USD 640 million).
Fonterra announces FY22 annual results
Fonterra has announced a strong set of results for the financial year ending 31 July 2022, reflecting a 2021/22 Farmgate Milk Price of NZ$9.30 (US$5.46) per kgMS.
Fonterra revises price due to geopolitical events
World events are having an effect on dairy farm gate prices, says Fonterra.
Fonterra to exit Russian businesses
Fonterra has announced it will exit its businesses in Russia. This follows the Co-op’s decision to suspend shipments of product to Russia at the end of February.
Fonterra’s CFO Marc Rivers to leave the Co-op
Fonterra has announced that its chief financial officer Marc Rivers will be leaving the Co-op at the end of 2022 following its Annual Meeting.