Fonterra plant closures might be on the cards

Fonterra plant closures might be on the cards
Fonterra's chief executive Miles Hurrell and chair Peter McBride earlier this year. (Image: NZME)
Riley Kennedy
Fonterra’s leadership has signalled there will be “discussions” about certain plants across its network in the next decade as it looks to cut $1 billion in costs.The dairy co-op held its annual meeting in Methven on Thursday, releasing its climate targets, discussing reducing the size of its board and updating its farmer-shareholders on the current outlook.The company announced in September that it planned to cut costs by $1b by 2030.Chief executive Miles Hurrell told the meeting Fonterra was targeting a 4% cash oper...

More Finance

FMA warns lenders on mortgage fraud
Finance

FMA warns lenders on mortgage fraud

The FMA sees dangers for borrowers if lenders aren't vigilant.

Staff reporters 25 Jul 2025
‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025
Time ripe to stop forex fees confusion
Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025
BNZ whistleblower wins $500k, fights on
Finance

BNZ whistleblower wins $500k, fights on

 Melissa Bowen had sought more than $3 million after she lost her job at the bank.

Victoria Young 18 Jul 2025