26 Oct 2009

Plea for Fonterra to broaden restructuring plans

5:36 am on 26 October 2009

Taranaki Maori farming interests are challenging diary giant Fonterra to broaden its capital restructuring proposals.

Ranald Gordon is the general manager of Parininihi ki Waitotara Incorporation's dairy farms and a Fonterra shareholder in his own right.

He told Waatea News the plan to be considered by shareholders next month will disadvantage Maori landowners, because it ignores the interests of those who by choice or historical circumstances must lease out their land.

He says farmers who've retired and are leasing the farm to their children are also excluded as are many sharemilkers.