22 April 2008 - Local media report that Fonterra, the world's leading exporter of dairy products, is closing its Waitoa cheese plant, near Morrinsville, on New Zealand's North Island.
The plant will not be opening for the new season, which starts in July.
There will be 47 redundancies.
Fonterra was reported in the press as citing “rationalisation” as a reason for the closure.
Fonterra, a co-operative owned by around 11,000 farmers, is New Zealand's largest company. Two weeks ago it announced a 5.8% rise in its forecast payout to farmers next season, as reported on FLEXNEWS.