Company blames ‘recent headwinds’ as growers’ returns could tumble to 67% below initial guidance.
State-owned farming company, which trades as Pāmu, pays bonus after missing financial targets.
NZ Meat Workers Union national secretary warns other plants could follow suit as industry declines.
Dairy co-op CEO Miles Hurrell looks forward to sales process for $3.4b Consumer unit ‘kicked off before Christmas’.
The new facility will be the size of three rugby fields and capable of storing 26,000 tonnes of cheese.
The industry says it has been lobbying the Government on the issue for years with no effect.
High energy prices an unsustainable cost for Karioi pulp mill and Tangiwai sawmill, says CEO.
Richard Burke will leave at the end of this year after more than 30 years with the produce business.
Some Synlait farmers said to be determined to switch.
Two of the country’s biggest operators have announced new deals since the rules made exporting easier and cheaper.