Logo
Prev
search
Print
addthis
Rotate
Help
Next
All Pages
Browse Issues
Home
'
The Border Watch : October 30th 2013
Contents
Dear WCB Shareholders and Suppliers, and community members, I would like to introduce you to Saputo, one of the top ten dairy processors in the world. Until now we have not had a presence in Australia, although we would like that to change. As you may be aware, Saputo has made an offer to acquire Warrnambool Cheese and Butter (“WCB”). If the acquisition is successful, we hope to become a valuable member of the local community and an important participant in the Australian dairy industry. About Saputo Saputo started from humble beginnings as a family owned business in Canada back in 1954. Over the years since, the company has grown to produce a broad range of dairy products, which we sell in more than 40 countries around the world - all the time buying more and more milk from local farmer suppliers. Today, Saputo operates 53 manufacturing facilities in three countries, employing more than 12,000 people and processing in excess of six billion litres of milk every year. Preserving WCB’s heritage WCB is a great business with a strong heritage – one that we want to preserve. If Saputo is successful in acquiring WCB, we will retain the Warrnambool Cheese and Butter name and invite some of WCB’s existing directors to remain on the Board. We recognise the important role that WCB plays in the local community and are very supportive of all the initiatives currently undertaken by WCB. I can also assure you that we intend to continue operations at the Allansford and Mil Lel facilities, and create an attractive and rewarding work place for all WCB employees. Our interest in acquiring WCB refl ects our high regard for the business and our intention to support WCB’s existing management to accelerate its growth in Australia and international export markets. Investing in Australia Saputo is seeking to invest in the Australian dairy industry, both through the acquisition of WCB and the investment we intend to make in expanding WCB’s manufacturing capacity, which in turn will drive demand for local milk production. Saputo has the fi nancial strength and strategic intent to make such an investment, which we believe will benefi t WCB’s employees, suppliers, their local communities and the broader dairy industry. Competitive milk pricing I know how important the milk price is to dairy farmers, and how important it is that they generate suffi cient returns in order for them to re-invest in their own farms. We understand that for us to succeed in growing the business of WCB, we must ensure our farmer suppliers are able to grow their milk production. Saputo has a long track record in developing mutually benefi cial relationships with dairy farmers around the world. In Australia, we will maintain WCB’s existing Supplier Relations and Pricing Policy Committee, and support the farmer suppliers through fi eld services teams, various supplier engagement projects and local community support. We know that Australia is a competitive market and that we will have to work hard and pay competitive prices to secure milk supply. Saputo is not currently in Australia, so our arrival will not reduce competition. Far from it. We will ensure WCB remains a vibrant competitor. I look forward to a long association with regional Victoria and to building a profi table future for WCB and its suppliers. Kind regards, Mr. Lino A. Saputo, Jr. Chief Executive Offi cer and Vice Chairman of the Board If you would like to learn more about Saputo, you may like to visit www.saputo.com. If you have any questions about the Saputo offer for WCB, please contact the Offer Information Line on 1300 397 230. 632250 The Border Watch, Wednesday, October 30, 2013 - 13
Links
Archive
October 29th 2013
October 31st 2013
Navigation
Previous Page
Next Page
