12 August 2004
Fonterra Study Tour
Three representatives of Federated Farmers of New Zealand (Inc) have joined a study tour to learn more about the
Fonterra Co-operative Group Ltd, and in particular about capital structures.
The three will accompany a small group of Fonterra Directors and Shareholders' Councillors on the visit to Fonterra
operations in New Zealand, Australia and North America.
"The trip is intended to create a greater understanding of Fonterra's business, in particular around issues of capital
structure," said Kevin Wooding, Chairman of Dairy Farmers of New Zealand (DFNZ), the dairy industry group of FFNZ.
Joining Mr Wooding on the tour are DFNZ Vice Chairman Frank Brenmuhl and John Pask, FFNZ's Deputy Director, Policy.
"Fonterra has said it plans to review its capital structure, so it is crucial that farmers are informed about vital
parts of Fonterra's 'cow-to-customer' value chain and the pros and cons of alternative structures as the co-operative
moves forward," Mr Wooding said.
Federated Farmers has written to Fonterra Chairman Henry van der Heyden outlining the importance of the Federation
retaining its independence in any debate about future options.
"DFNZ's aim is to give our members independent, reliable and up to date information about Fonterra's review of its
capital structure. Our involvement will mean that we can help get the best possible outcome for the co-operative and
individual members," Mr Wooding said.
The Fonterra-sponsored tour is scheduled to begin today and end August 20.
ENDS