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Fonterra announces closure of Kāpiti Coast plant, hours after reporting $605m loss

Fonterra this morning has announced that its Paraparaumu plant, on the Kāpiti Coast, is set to close.

Staff at the Te Roto plant were informed of the decision this morning.

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It is the second ever worst result for the dairy industry giant. Source: 1 NEWS

The dairy giant said work will move to its Eltham plant.

It comes after Fonterra this morning posted a net loss of $605 million following asset writedowns of $826 million.

Fonterra has cut its forecast for full-year earnings per share. Source: 1 NEWS


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Scott Evans gave his response to Fonterra’s massive $605 million loss. Source: 1 NEWS