Founded by Max Farndale 1947 - 2018
T&G Global, the fruit marketing firm controlled by Germany's BayWa, wants to sell its food processing subsidiary T&G Foods as the apple processing business has been hurt by a decline in fruit volumes and a slide in apple juice concentrate prices.
The company reviewed the unit's operations and determined it's non-core and consequently should be either sold, rationalised or closed, it said in a statement. Expressions of interest close on Nov. 15.
“Despite the best efforts of T&G Foods’ management and staff, the business has struggled to counter the current impact of the significant decline in the volume of fruit for processing in New Zealand and the continued worldwide decline in the commodity price of apple juice concentrate," chief executive Alastair Hulbert said.
Depending on the timing and outcome, T&G may incur a significant after-tax loss due to a write-down in the net book value of T&G Foods’ assets and other associated costs, it said. At this stage the negative impact to the T&G Group is estimated to be about $14 million.
It noted, however, any negative impact will be largely offset by a fair value gain of approximately $14 million from T&G Group’s investment in Grandview Brokerage announced in March, a joint venture in the US that will improve its access to the American fresh produce market.
"Consequently, T&G does not expect a material income statement impact to arise for the year ended 31 December 2017," it said.
T&G Foods has the capacity to process up to 200,000 metric tonnes of apples and other fruit at its two manufacturing sites, one in each of Hastings and Nelson. It processes apples into apple juice and has also diversified into the production of higher margin fruit ingredient products including diced apple for the food services industry, apple sauce in bulk and small format pouches for retail consumers.
While the apple industry has been converting orchards to new apple varieties and in the last five years has added more than 2,500 hectares of orchards, the volume of apples available and suitable for processing has been in significant decline and has negatively impacted T&G Foods trading, it said.
The shares last traded at $3.35 and are down 0.7 percent over the past 12 months.
|nA businessDeskrelease on ShareChat || October 16, 2017 |||
#5 - James Lovelock’s Gaia hypothesis made powerful arguments in favour of the Earth as a self-regulating system, and as the last century drew to a close the theory arrived massively in New Zealand academic and media life. It’s central contention is that the planet is self-regulating organism and that the heavy output of “carbon” actually carbon dioxide from industrial processes along with its associated “greenhouse” gas methane from living creatures is interfering with this natural order
The position nowThe flap remains still largely confined to the intelligentsia and has failed to break into the electoral realm as a whole. Proponents, supporters and “deniers” viewing alternating extremes of chills and heat waves from their own divergent points of view. James Lovelock himself has become one of these telling The Guardian that it is “ just as silly to be a climate denier as it is to be a believer” and claiming that fracking and nuclear power should power the UK, not renewable sources such as windfarms.
| MSC Newswire Big Frights of Our Times Series #5 || Monday 16 October 2017 |||
Rod Oram notes a growing mood among New Zealand business leaders for any new Government to create a climate commission. Those calling for change include Air New Zealand's Christopher Luxon and Sir Rob Fenwick.
Last Wednesday week, Air New Zealand laid on a big breakfast for 400 business people – enough to fill more than one of its Dreamliners – at the cavernous Viaduct Events Centre in Auckland.
The event – longer than a flight to Wellington and back – was not to celebrate a new aircraft, bumper profits or other conventional business milestone. It was for the launch of the airline’s 2017 sustainability report.
Christopher Luxon, its chief executive, told the audience the company had its priorities right.
“Two years ago, I launched Air New Zealand’s sustainability framework to supercharge Air New Zealand’s success -- socially, economically and environmentally.”
Given aircraft burn prodigious quantities of climate-changing fossil fuels, that could seem an oxymoron. Yet, member nations of the International Civil Aviation Organization, a UN body, committed last year to phasing in carbon neutral growth of their activities from 2020.
That means their airlines will continue to grow, but net emissions from aircraft will be flat, thanks to fuel efficiencies, carbon offsets from the likes of forest plantings and, ultimately, technology breakthroughs such as synthetic fuels and hybrid and electric planes.
This is the sort of radical change that our Productivity Commission is investigating in its inquiry into New Zealand’s transformation to a low-emissions economy. In its issues paper released in August it says:
“…the shift from the old economy to a new, low-emissions economy will be profound and widespread, transforming land use, the energy system, production methods and technology, regulatory frameworks and institutions, and business and political culture.”
So far, the Commission has received more than 120 submissions from interested parties. Many from mainstream businesses call for bold and co-ordinated policies from government to help them play their part in a more sustainable economy over the next couple of decades.
| Continue to the full article published on Newsroom || October 15, 2017 |||
Labour Party Grandees Considered to have a Matchmaking role
The long duration of the New Zealand government’s post general election coalition negotiations indicate that the New Zealand First Party minority but tie-breaking faction will coalesce with the Labour Party.
The main reason is that New Zealand First Leader Winston Peters MP, the one who unilaterally calls the shots, has two key policies that blend with Labour’s. They are:-
New Zealand First’s policy to cut immigration back to the bone chimes with the historic doctrinal Labour ambition of raising wages.
This requires that demand for labour outstrips supply.
Something which is hard to do with a liberal immigration regime in place.
It runs though counter to the operational policy of the installed National government to stimulate growth through immigration.
So there would have to be an awkward National back down, and a personal one, by caretaker prime minister Bill English
Meanwhile, Mr English has repeatedly and personally set his face on a re-entry to the doomed Pike River mine. A comedown here will mean considerable loss of face.
A re-entry, however symbolic, will be welcome on the West Coast which always votes Labour.
There are signs too that the Labour Party’s grandees, who tend to have more influence than their National Party counterparts, are weighing in behind a coalition with Winston Peters.
Bryan Gould, a New Zealand-born member of the British Parliament, and once tipped as a likely leader of the UK Labour Party, has issued a communique warning of the dangers of getting in too deeply with the Chinese.
This indicates a clear tilt toward Winston Peters who has been issuing the same type of warning, and who favours a re-balance with the North Atlantic.
A further dowry that Mr Peters can bring to Labour is his campaign positioning as champion of farmers.
The inability of the National government to boil down the nation’s agricultural water problem into digestible policies allowed Mr Peters to successfully insert himself into the confusion.
Mr Peters has worked with Labour before.
It was Mr Peters also who produced the recognisable ace welfare card in recent times, his Super Gold Card giving pensioners substantial discounts on essentials, notably public transport .
The option for the caretaker National government is to know that their time is up. Temporarily. Sit out the next three years and hope for the worst.
Then, having lost no face, having been seen to have stood behind its principals (something it often finds hard to do) and then to resume its normal course as it sees it, as the natural party of government.
| From the MSCNewsWire reporters' desk || Monday 16 October 2017 |||
T&G’s Lotatoes have fended off four other food innovators to win The Ministry for Primary Industries Primary Sector Products Award at the 2017 New Zealand Food Awards Reports.
The category promotes, recognises and showcases innovations in primary sector products, processing and packaging methods.
“Lotatoes are sustainably grown right here in New Zealand by passionate farmers loved by kiwi consumers. We’re extremely proud to win at the 2017 New Zealand Food Awards,” says Andrew Keaney, executive general manager, T&G who accepted the top award.
“Having judges recognise Lotatoes confirms we’re is on the right track, so hats off to the dedicated teams from T&G and our growing partners Balle Brother and Masters Produce for getting Lotatoes from the soil to the supermarket shelves.”
This potato, which has 40% less carbs and fewer calories than other potato varieties, was developed by cross-breeding different varieties of potato seeds together.
The seeds have a shorter, more sustainable, growth cycle using less water than traditional spuds making them better for the environment, T&G told FreshPlaza.
| A T&G release published in FreshPlaza || October 13, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242
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