Media Release
6 March 2008
From Russia With Love
Russian food products group, Nutritek, should have their application for majority shareholding and control of the New
Zealand Dairies’ Studholme plant rejected out of hand by the Minister of the Overseas Investment Office, says New
Zealand First spokesperson for primary production, Doug Woolerton.
“Local farmers who formed this company in the first instance will be disadvantaged and essentially have a company
filched from under them if approval is given.
“How can a government charged with acting in New Zealand’s best interests even contemplate such a thing?
“Russian conglomerate, Nutritek, bought into New Zealand Dairies Ltd last year starting with a five to six percent share
at $1.6 million. But with another $20 million in plant and $40 million more invested in the company, they are obviously
set on considerable expansion.
“New Zealand First believes the application should be turned down so the farmers in South Canterbury can pay the
Russians out and keep New Zealand’s dairy industry in farmers’ hands where it should be.
“Profits from the sweat of our farmers should stay here, not be allowed to slip away to the oligarchs in Russia,” said
Mr Woolerton.
ENDS