New Zealand dairy cooperative Fonterra has announced its FY18 annual results, the plan to improve its business performance and the outlook for FY19, including a review of its investment with Chinese company Beingmate.
Fonterra Co-operative Group has announced Miles Hurrell will take over as the New Zealand cooperative’s interim chief executive with immediate effect, and the search for a new CEO will temporarily be halted.
Fonterra has announced a joint venture partnership with one of India’s largest consumer companies, Future Consumer Ltd, to produce a range of consumer and foodservice dairy products for the Indian market.
Dairy price recovery in 2017 has positively affected the combined turnover of the top 20 companies, which, in 2017, was up 7.2% on the year in US dollar terms, according to RaboResearch’s latest report, ‘Global Dairy Top 20 – A Shuffling of the Deck Chairs.’
New Zealand’s Fonterra Co-operative Group said it welcomes the appointment of Bao Xiufei to the role of general manager of Beingmate Baby & Child Food Co Ltd. Fonterra has an 18.8% share in the Chinese food company.
A just-published Greenpeace investigation alleges that New Zealand dairy giant Fonterra Cooperative Group’s key supplier of palm kernel extract (PKE) has links to a huge expanse of deforestation in Indonesia.
New Zealand dairy cooperative Fonterra is adding a new channel to its global foodservice business – Beverage House – to capitalize on what it says is an increased global demand for ‘adventurous’ tea and coffee drinks.
Half a million liters of Pahiatua groundwater (equivalent to about 18 milk tanker loads) will be saved daily due to the development and installation of a reclaimed water system at the local Fonterra site.