Chinese deal vital, SFF says – Sally Rae:
Silver Fern Farms could be facing insolvency if shareholders do not approve a 50:50 joint venture with Chinese company Shanghai Maling.
Voting has opened on the proposal before a meeting of shareholders at Dunedin’s Forsyth Barr Stadium on October 16.
Shanghai Maling, a subsidiary of state owned food giant Bright Food Group, is proposing to take a 50% stake in Silver Fern Farms, in return for an investment of $261million. . .
Hold off on Silver Fern vote, farmers urged – Sally Rae:
Farmers are being urged to hold off voting on the Silver Fern Farms joint venture deal with Shanghai Maling, with hints that ”concrete” alternatives will emerge.
Voting is under way and closes at 10.30am on October 14, before a special meeting in Dunedin on October 16, where two resolutions will be voted on.
As well as the Shanghai Maling proposal, the meeting will also consider the shareholder resolution, promoted by Heriot farmer Allan Richardson and John Cochrane, from Clinton, seeking full analysis of the benefits and risks of a merger with Alliance Group. That resolution was not supported by Silver Fern Farms’ board. . .
Bright lets sparks fly – Alan Williams:
Bright Dairy group is an excellent strategic investor in Synlait Milk, the latter’s chairman Graeme Milne says.
“It’s more than just money they bring.
“They’ve got the knowledge and capability to help us make good decisions.”
Shanghai Maling, the proposed new investor for Silver Fern Farms, is part of the wider Bright Dairy-Bright Foods group. . .
Super-drone sprayer comes with risks -Robin Martin:
The first unmanned helicopter certified to spray chemicals in New Zealand could ultimately save back-country farmers thousands of dollars but it comes with a hefty price tag – and a safety warning.
The Yamaha RMAX is a beast by drone standards, powered by a 260cc engine and weighing in at close to 100 kilograms.
Yamaha business development manager Geoff Lamb and his team put the chopper through its paces for a gathering of curious farmers, spraying contractors and radio-controlled aircraft enthusiasts at a Lepperton farm in Taranaki this week. . .
The chief executive of Fonterra has asked for his multi-million dollar salary to be frozen this year as the co-operative goes through major cost cuts and slashes hundreds of jobs.
Theo Spierings requested the freeze on his base salary on the same day Fonterra announced it was slashing hundreds more jobs as part of a business shake-up, taking total layoffs to 750.
That came just days before the company released its annual result.
A spokesman said Mr Spierings went to a meeting of Fonterra’s people, culture and safety committee on 21 September and requested that his base salary of about $4 million for the 2015/16 year be frozen. . .
New Zealand’s shift from a pasture-based model to high feed-input dairy farms will come under the microscope in a joint research project involving Ballance Agri-Nutrients, AgResearch, DairyNZ and Tatua, in partnership with the Government’s Sustainable Farming Fund initiative.
The two year project, led by AgResearch’s Dr Stewart Ledgard, will use case study farms varying in intensity of feed use to examine effects of their system changes over the last decade on emissions, production and profit as well as testing options for improving their sustainability.
“Locally there is strong interest in understanding implications for water quality of dairy intensification through increased use of supplementary feeds and how effects can be minimised, while internationally there is a desire for food products to be produced with efficient use of resources and reduced wider environmental impacts”, says Dr Stewart Ledgard. . .
Well it’s official New Zealand has been fleeced by the Australians ..who now hold the world record for the heaviest fleece shorn off a merino.
The Australians were quick to yell they had found a wild merino near Canberra in early September with a fleece which weighed in at 40 kilograms.
Otago’s ‘Shrek the sheep’ held the record up until last year when another wild merino – dubbed Big Ben – was found in the Mackenzie Country with a fleece weighing 28.9 kgs. . .
New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the more restricted wool type offering in the North Island sale of 6,165 bales saw a 97 percent clearance and a generally steady market.
The weighted indicator for the main trading currencies firmed 1.66 percent compared to the last sale on 24th September only impacting on the finer end of the offering.
Mr Dawson advises that the stronger New Zealand dollar and limited interest in the Fine Crossbred longer wools saw prices ease 2 to 4 percent with shorter types better supported with pries 1 to 3.5 percent softer in local terms. . .