Fonterra plant closures might be on the cards

Fonterra's chief executive Miles Hurrell and chair Peter McBride earlier this year. (Image: NZME)

Fri, 10 Nov 2023

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...

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