Rural round-up

26/06/2013

Speech to the New Zealand Farm Environment Awards Trust Presentation – Nathan Guy:

 . . . The severe drought this year was a brutal experience for many farmers, but I believe it has had one important positive outcome.

If nothing else, it has reinforced to urban New Zealanders just how important the primary industries are to our economy and way of life.

They remain the powerhouse of the economy, generating around $30 billion a year and making up 72% of our exports. When they suffer, so does the rest of the economy. . .

Tracmap –wins prestigious Richard Prease Award for aviation innovation 2013:  

Dunedin based Tracmap, specialists in precision applications for agricultural aviation and situation awareness for people operating aircraft and vehicles in challenging environments is the winner of this years prestigious Richard Pearse award for innovation in aviation. . .

Synlait Ltd investors may sell 19M shares into Synlait Milk IPO, Bright won’t participate:

Shareholders of Synlait Ltd may sell 19 million shares of Synlait Milk as part of the dairy company’s initial public offering while Bright Dairy won’t participate in the sale, according to Synlait Milk’s prospectus.

The Rakaia-based Synlait Milk will raise about $120 million from the IPO, of which $75 million will come from new shares and the remaining $45 million from a selldown by Synlait Ltd investors, who include Japan’s Mitsui & Co and Synlait Milk chief executive John Penno. . .

Dow AgroSciences NZ FY sales jump 23% on Australian growth, loss widens:

Dow AgroSciences (New Zealand), the local unit of Dow Chemical Co, reported full-year sales growth of more than a fifth as it sold more crop protection products in Australia, though costs to ramp up production widened its annual loss.

Sales rose to $146.9 million in calendar 2012, from $119 million a year earlier, according to the New Plymouth-based company’s annual report. The net loss widened to $1.87 million from $742,000. . .

“Best Fish Guide” shines light on aquaculture industry:

New Zealanders can now buy farmed New Zealand seafood they know is ecologically sustainable thanks to Forest & Bird’s new Best Fish Guide.

It is the first time New Zealand’s aquaculture farms have been assessed for the Best Fish Guide, which has been helping consumers choose eco-friendly seafood since 2004.

The inclusion of aquaculture species means Pacific oysters, paua, Green-lipped mussels and both freshwater and marine-farmed salmon have been added to the guide’s ranking system. . .

Te Mania Hits $1million Again:

For the third year running Te Mania Angus has sold over $1 million of bulls at the largest on farm Angus bull sale in New Zealand.

Under less than ideal conditions – with the impact of the widespread dry, lower returns in the sheep and beef sector, the imminent storm warnings leading into the sale and finally a power outage minutes before the sale commenced, the result was very pleasing. . .

Rural Equities Limited – an Update:

Rural Equities Limited (REL) owns six dairy farms in its rural property portfolio. REL has recently conducted a review of the options available for processing the milk from those dairy farms. REL will continue to supply the Fonterra Co-operative from Delorain (Taranaki), Penshurst (Manawatu) and the two Southland dairy farms, Shenstone and Tatarepo. The two Canterbury dairy farms, Milford and Rocklea, will supply Synlait Milk Limited from the season which commenced on 1 June 2013.

Following the recent Fonterra bonus share issue, REL owned 1,590,798 Fonterra shares. The processing changes outlined above, allow milk to be supplied to Synlait without owning Synlait shares. REL also participated in the recent Fonterra shareholders’ Supply Offer which enabled a proportion of shares to be sold to the Fonterra Shareholders’ Fund with suppliers retaining full rights to supply milk. Both this and the Synlait initiative have enabled REL to divest approximately half of its Fonterra shareholding (789,262 shares). The sale of the Fonterra shares has realised approximately $6,000,000, at an average price in excess of $7.50 per share. . .


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