Fonterra and Nestlé agree sale of DPA Brazil joint venture
Fonterra and Nestlé today agreed the sale of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m (approximately NZD $210m subject to closing transaction adjustments). The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.
Fonterra teams up with Volvo Trucks NZ to expand its electric fleet
In partnership with Volvo Trucks NZ and its parent company Sime Darby Motors NZ, Fonterra has today launched the first electric Volvo truck on New Zealand soil.
Fonterra upgrades earnings guidance and posts strong first quarter
Fonterra Co-operative Group Ltd today upgraded its earnings guidance to 50 – 70 cents per share from 45 - 60 cents per share and lowered and narrowed its forecast Farmgate Milk Price range of $8.50 - $10.00 per kgMS to $8.50 - $ 9.50 per kgMS, with a midpoint of $9.00 while holding its advance rate. It also reported a strong start to the 2023 financial year.
Fonterra and Nestlé partner on ambition to create New Zealand’s first net zero carbon emissions dairy farm
Fonterra and Nestlé today announced a new partnership designed to help reduce New Zealand’s on-farm emissions, including a New Zealand first – a drive to develop a commercially viable net zero carbon emissions dairy farm.
Fonterra confirms timeline for Capital Structure implementation
Fonterra can today confirm that its new Flexible Shareholding capital structure is set to be implemented in late March 2023, subject to the Board being satisfied that the relevant preparations are completed before then.
Fonterra announces divestment of Chile business
Fonterra is pleased to announce the divestment of its Chilean Soprole business. The divestment comprises a number of transactions that result in aggregate consideration of 591.07 billion Chilean Pesos (approximately NZD1.055 billion).
Fonterra appoints Chief Financial Officer
Today Fonterra Co-operative Group announced the appointment of Neil Beaumont to the role of Chief Financial Officer, effective early February 2023.
Another sustainability success for Fonterra Te Awamutu
As Fonterra works to prioritise the reduction or re-use of water at its manufacturing sites, the Co-op is investing a significant $51 million to improve wastewater processing at their Te Awamutu site in the Waikato.
Fonterra announces new Sustainable Finance Framework
As part of Fonterra's commitment to sustainability and implementation of its strategy, the Co-operative has today released its Sustainable Finance Framework (Framework). This Framework aligns Fonterra’s funding strategy with its sustainability ambitions and reflects the evolving preferences of lenders and debt investors in this area.