Fonterra Welcomes Commerce Commission Decision

Media Statement

24 December 2008

Fonterra Welcomes Commerce Commission Decision

Fonterra General Counsel, David Matthews, said the company was pleased to have confirmation from the Commerce Commission that the contracts offered to farmers fully complied the law.

"Even though there's been a lot of noise from other milk processors, we've never been in any doubt about our approach. This is simply a case of Fonterra taking a commercial approach in a competitive environment and acting in the best interests of all our farmer-shareholders.

"What other company, in what other industry would simply sit back and be rolled over without responding to the competition?"

Mr Matthews said Fonterra would continue to respond to competition and act in the best in interests of its farmers - "This is a very clear ruling from the Commerce Commission and one that shows some of the claims being made in the public arena simply don't stack up to scrutiny."

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