Rural round-up

July 10, 2013

Fonterra price scheme proves popular – Jamie Gray:

Fonterra’s guaranteed milk price (GMP) pilot scheme for the current season has proven so popular that it has required scaling, the co-operative dairy giant said.

Fonterra said 328 farms have applied to supply 37 million kg of milk solids for the scheme but that it had maintained the size of the pilot at the targeted 15 million kgMS, about one per cent of its total milk supply.

As a result all applicants were scaled to 40 per cent of their requested kgMS, with a minimum threshold of 10 per cent of a farm’s production. . .

Synlait Milk sets share price at $2.20 a piece:

Synlait Milk will sell shares at $2.20 apiece before joining the NZX later this month, valuing the dairy processor at $322 million and making it the 43rd biggest company on the exchange.

The Rakaia-based company plans to raise $75 million of new capital, and existing shareholders will sell $38.7 million, or 17.6 million shares, in a secondary offer, listing on July 23, Synlait Milk said in a statement.

Cornerstone shareholder Bright Dairy and Food won’t participate in the offer, reducing its holding to about 39 percent from the 51 percent it acquired in 2010 after Synlait abandoned an earlier plan to go public because of tepid investor appetite after the global financial crisis. . .

Huge opportunity with Icebreaker – Sally Rae:

Nicola Simpson is a firm believer in taking opportunities as they come.

She was on holiday with her family at Pounawea when she checked her emails and found a message ”out of the blue” asking if she would be interested in joining merino clothing company Icebreaker.

It meant moving from Wanaka to Auckland, a city where the family had lived before, but it was a ”huge opportunity”, she said. . .

LGNZ Welcomes New Dairy Accord:

Local Government New Zealand has welcomed the new Sustainable Dairying: Water Accord released at Parliament today.

The Accord, which involves two tiers of “accountable” and “supporting” partnerships between a number of dairy industry bodies and agri-businesses, also lists 15 regional and unitary councils as “Friends of the Accord.” . . .


%d bloggers like this: