There is trouble for the mighty Fonterra in New Zealand who are on the receiving end of angry shareholders after the company endured another difficult year. The company is forecast to report a second year of financial losses in a row as their international expansion plan has not enjoyed the expected success.
The company have been forced in to asset write-downs across the globe in countries such as Brazil, China and the cost of this is up to NZ$860m.
The company reported an annual loss of NZ$675m last year and the turmoil looks set to continue this year. This has caused a huge shock to the New Zealand government because dairy is hugely important to the entire economy as it accounts for 3.5% of annual GDP. Regional Development Economic Minister Shane Jones offered a damning indictment as he labelled Fonterra’s management team ‘grossly inept’. Pressure is mounting on the management team to turn the company’s fortunes around urgently at the world’s largest dairy company. Chief Executive Miles Hurrell has pledged a change of strategy as focus will move away from global expansion and instead turn to domestic milk production in NZ.
Catherine’s role is Technical Assistant and she is one of the newer members of the Ingredient Solutions team. Catherine recently graduated in Food Science and Innovation at WIT and is motivated, positive and enjoys working in a team. Catherine says, “I always see the good in every challenge that approaches me as they can lead to opportunities to learn more.” She is looking forward to focusing on the areas that she can control and learning how to perfect them.
Ted is the Factory Manager, he is the man that keeps everything running smoothly, supporting production and technical operations. He ensures that all the machinery within the factory functions at maximum efficiency and is properly maintained.
Suma has worked for Ingredient Solutions for two years as Technical Manager – leading the technical team. Before working for Ingredient Solutions, Suma worked in Asia, the Middle East and Europe and has over twenty years experience in management and leadership in food and other industries.
Pina is our UK Sales Support Administrator and has worked for Ingredient Solutions since 2012. She works alongside Gary Davies and the sales team providing them with sales information and supporting the team especially when they are on the road. Pina works remotely for Ingredient Solutions from her base in Luton in the UK.
Marek is based near Lublin, that’s not a typo we don’t mean Dublin, he’s our man on the ground in Eastern Europe.
