Is A2 milk about to leap forward? _ Keith Woodford:
Shares in The a2 Milk Company (coded as ATM on the NZX stock exchange) have increased from 48.5 cents on 29 May to 75 cents at 3 July. The market capitalisation has risen from $330 million to $495 million. Where the shares will go in the next few weeks is a journey into the unknown.
What is known is that some of the international big boys have been putting together a syndicate to purchase ATM (also listed jointly on the Australian exchange as A2M). The publicly announced parties are America’s Dean Foods and Australia’s Freedom Foods. But in the background are Australia’s Perich family, Australia’s Moxey family, and China’s New Hope agri-food conglomerate. And hovering nearby is Richard Liu from the rapidly growing Chinese online marketer JD.com. . .
Sheep farmers have celebrated the top performers in their industry at the Beef + Lamb New Zealand Sheep Industry Awards in Invercargill tonight.
This is the fourth year the awards have been held and Beef + Lamb New Zealand chief executive, Dr Scott Champion said the awards night was a wonderful way to showcase the sheep industry – a major contributor to the New Zealand economy.
“The industry has and continues to make huge progress – for instance, while the number of sheep has halved in the last 25 years, lamb production has only fallen by seven per cent. Improved genetics is part of this fabulous productivity improvement story and tonight’s winners are leading the way in sheep genetics.” . .
Marlborough Lines takes 80% stake in Yealands Wine for $89M – Suze Metherell:
(BusinessDesk) – Marlborough Lines has bought an 80 percent stake in Yealands Wine Group, New Zealand’s sixth-largest wine exporter, for $89 million.
The South Island electricity lines company took control from founder Peter Yealands, who wanted to keep the winery fully New Zealand owned, the companies said in a joint statement. Marlborough Lines is debt free and had realised $100 million in cash from investments which it wanted to reinvest locally.
“Opportunities to invest in the electricity industry are limited and this led to us looking to other options,” said Marlborough Lines managing director Ken Forrest. “We are satisfied that this will be a successful investment which will broaden our asset base for the benefit of the people of Marlborough.” . .
July is the start of the next phase for OSPRI’s NAIT programme with the three-year exemption period for pre-NAIT cattle now over. This means that all cattle must be tagged and registered in the NAIT system, even if they are not leaving your property or were born before the NAIT programme launched in July 2012 (the transition period for deer ends on 1 March 2016).
Dr. Stu Hutchings, OSPRI Group Manager, says, “Our goal is to get everybody on board with NAIT so we can all reap the benefits of tighter TB control and continued access to export markets. The only way to make this happen is if farmers play their part and fulfil their NAIT obligations.” . . .
Fonterra Co-operative Group Limited today provided an update on the business review it announced in March this year.
Fonterra Chief Executive Theo Spierings said the purpose of the review is to ensure that Fonterra is best placed to respond to a rapidly changing global environment.
The initial phases had looked at the entire business in detail and had identified potential areas, including significant initiatives in procurement, business operations and working capital, where the Co-operative can unlock increased value for its owners. . .
Silver Fern Farms chief executive Dean Hamilton has been appointed to the Deer Industry New Zealand (DINZ) board for a three year term.
Mr Hamilton joined the board as a venison processor-appointee on 1 July, replacing Dr Andrew West at the end of Dr West’s three-year term.
Deer Industry New Zealand chair Andy Macfarlane welcomed Mr Hamilton.
“Silver Fern Farms is our largest venison processor and marketer and we are very pleased to now have a close connection to that company through Dean’s appointment. To have a leader of his calibre on the board will be an asset for DINZ and is a good signal of Silver Fern Farms’ commitment to the deer industry.” . . .