Fonterra's NZ assets may come under microscope

(Image: Fonterra)

Thu, 21 Sep 2023

Fonterra officials provided scant detail on just how the co-op plans to strip out $1 billion of costs over the next seven years, but its New Zealand assets may be under the microscope. Fonterra currently has assets in New Zealand worth $6b, and its chief financial officer, Neil Beaumont, said, “You can expect that footprint may decline a bit over time”. The co-op was implementing a range of projects that will streamline how it operates, it said earlier on Thursday.Tough timesThe message was clear: tough times are def...

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