Media Statement from MIAG

MEDIA STATEMENT from the MEAT INDUSTRY ACTION GROUP [MIAG]

11 September 2008

Media Statement from Meat Industry Action Group

While MIAG is disappointed that the resolutions for a constitutional committee to begin industry consolidation failed, it is pleased that debate has taken place and that farmers are more aware of the issues that need addressed.
John Gregan, chairman of MIAG says it is encouraging to hear both ALG and SFF along with PGGW support consolidation and that MIAG will be there to remind them of this if need be.

He said it is also pleasing to hear industry participants now endorsing MIAG’s earlier suggestions of the critical importance of top class governance at board level and a shareholders council.

Mr Gregan also says that while the campaign for a constitutional committee has finished, the campaign for an 80% company handling all red meat is not.
In the meantime MIAG will await with interest further proposals to achieving meaningful consolidation as AGL, SFF and PGGW have all stated that in their view “this is critical”.

MIAG is concerned that the industry could be heading for a very destructive procurement war with predictions of 23% less stock available for slaughter this season.

We certainly hope the SFF/PGGW partnership will be the genesis of further consolidation in the meat industry which we believe is a key issue and one that the new board must pursue with some vigour to justify rebate shareholders positive vote.

In the meantime, MIAG will keep members informed of industry progress.

ENDS

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