Member log in

San Lu

Sealord nets Whale Watcher and Fonterra ‘fall guy’

BOB MAJOR: Signed up with Sealord

Fonterra's Sanlu scandal 'fall guy' surfaces in Wellington

The head of Fonterra's operations in China during the Sanlu milk scandal is to speak in Wellington next week.

Fonterra says executions a matter for Chinese authorities

Fonterra is obligated to condemn the execution of two people involved in the San Lu milk powder scandal, Amnesty International says.

But Fonterra said the executions were a matter for the Chinese Authorities. A spokesman distanced the company from the now bankrupt San Lu [which it had a 43% stake in].

Fonterra posts $139 million impairment charge on San Lu stake

Fonterra is facing a $139 million writedown in the value of its San Lu investment as the fallout from the Chinese killer milk tragedy continues to spread.

New Zealand’s biggest company announced its results today: a final payout of $7.90 per kg of milksolids, of which farmers will receive $7.66.

The remaining 24c will be retained to strengthen Fonterra’s balance sheet in the light of instability in financial markets, the board said.