Explore

Communities in English

Advertise on Engormix

Int’l - Fonterra again eyeing Australian dairy industry expansion

Published: August 10, 2006
Source : Fonterra
New Zealand's dairy giant Fonterra this week confirmed plans to expand its operations beyond the 21pc of the total Australian milk production that it already processes. Chief executive, Andrew Ferrier, told a meeting in Melbourne this week that Fonterra was in no rush to pursue that ambition. But he said the group is financially primed and ready to look at any opportunities - large or smaller - that become available. Last year, Fonterra was losing bidder in the battle for listed Australian company National Foods, which eventually sold for $1.9 billion to the Philippines group San Miguel, which already owned the Berri fruit juice business. Until another opportunity arises for a big one, Fonterra will continue to drive its “organic growth”, both in its milk processing businesses and in the expanding range of products the Fonterra Brands business now markets in Australia. Questioned about the potential to acquire the NSW-based Dairy Farmers Co-operative, Mr Ferrier said Fonterra would always be interested in a large-scale business like that. But “it has to be available and at the right price.” Fonterra’s Australian revenues now total an annual $1.8 billion. This includes raw milk processing facilities in WA, Tasmania, Victoria and southern NSW. And while the bulk of that was dedicated to processed products such as cheese and milk powders, Mr Ferrier said they also include a wide range of fresh and processed consumer products. "Fonterra in Australia will continue to 'grow our footprint'," he said.
Source
Fonterra
Related topics:
Recommend
Share
Would you like to discuss another topic? Create a new post to engage with experts in the community.
Featured users in Dairy Cattle
Guillermo Schroeder
Guillermo Schroeder
Cargill
United States
Pietro Celi
Pietro Celi
DSM-Firmenich
DSM-Firmenich
United States
Mauricio Grierson
Mauricio Grierson
MSD - Merck Animal Health
MSD - Merck Animal Health
United States
Join Engormix and be part of the largest agribusiness social network in the world.