22 Feb 2017
IFA PRESIDENT SAYS GLANBIA COMMITMENT TO FARMER SUPPORT WELCOME, BUT COMPLEX SET OF PROPOSALS NEEDS FURTHER TEASING OUTDairy
IFA President Joe Healy has welcomed the commitment made by Glanbia to supporting farmer members in its proposal to bring Consumer Products and Agribusiness into a 60-40 joint venture encompassing GII.
On the creation of a €40m Member Support Fund, Mr Healy said, while such a fund would hopefully not be required for quite some time, it is a matter of fact that dairy markets and prices have become extremely volatile over recent years. He added it was crucial that the new Joint Venture would pay a commercially competitive base price at all times.
Mr Healy said the proposals had both positive and some more challenging aspects.
Mr Healy urged all Glanbia Co-op shareholders to inform themselves fully on this initiative at forthcoming Glanbia information meetings in advance of the required shareholder vote later this year.
He added that IFA would engage further with Glanbia to fully assess the complex proposals over the coming weeks.