UPDATE2: Fonterra says it reaped $50M-$70M benefit from extending supplier payments

Wed, 23 Mar 2016

(Recasts to add comment on delayed payments, executive comment) By Fiona Rotherham March 23 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, says it gained a $50 million-to-$70 million benefit from extending payment terms by a month to about 1,000 New Zealand suppliers. The dairy cooperative caused a storm this month after confirming it had asked another 1,000 suppliers in New Zealand to wait up to three months to have their invoices paid. Fonterra chairman John Wilson said the policy was introduced g...

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