Fonterra Now In Business

Tuesday 16 October 2001 For Immediate Release

Fonterra Now In Business

Fonterra Co-operative Group Ltd is now in business, Chairman John Roadley said today.

“This afternoon, the boards of Fonterra, the Dairy Group and Kiwi passed the merger resolutions and the required documents were filed with the Registrar of Companies,” Mr Roadley said.

“This step completes our merger and brings our industry together for the first time. It has taken us just under ten months since we signed our Merger Agreement.

“The day is historic and is only possible with the overwhelming support of our shareholders and Parliament, and thanks to the hard work of at least three generations of dairy farmers and thousands of staff all around the world.

“We have advised our staff of the merger with the message that it is business as usual. While some initial changes will begin to be made over the next few days, change will not be made for change’s sake.

“Today is a day for celebrating, and a day for getting down to the hard work of building our new company.”

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