Landcorp's 20 years has delivered $400 million in dividends
Not only one of New Zealand's largest farming businesses, Landcorp is also significant in world terms
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"This government has high expectations of its SOEs," Agriculture Minister Jim Anderton said today, congratulating Landcorp on its financial performance. "Over the last twenty years Landcorp has paid the public of New Zealand $400 million in dividends. This has all come from tax paid profits and the sale of some non-core assets."
Jim Anderton was opening Landcorp's 20th anniversary Conference in Wellington today. He noted that the journey has not always been smooth. "In its early days there was strong pressure for asset sales and Landcorp was lined up to be sold along with many other state owned enterprises. The property business was sold and the farming business would certainly have gone the same way were it not for the numbers of Treaty claims and court injunctions preventing sales.
"But when you have sat around Cabinet pondering the costs of having to buy back an airline, buy back rail tracks and start a bank because selling all of those businesses turned out to be a mistake − then you can see why this government decided there would be no more strategic asset sales."
Landcorp is not only one of New Zealand's largest farming businesses, it is also significant in world terms. It produces each year over 9-thousand tonnes of milk solids, 3-thousand tonnes of venison, close to 9-thousand tonnes of sheep meat, more than ten thousand tonnes of beef and 3-thousand tonnes of wool.
Jim Anderton also acknowledged the contribution Landcorp makes to the farming industry. "It contributes advances in livestock breeding, nutrition and management, for example. Innovation is crucial to the continued success of our agricultural economy.
"As global awareness grows about the environment, animal welfare, food safety and social responsibility, Landcorp will be able to differentiate itself from other primary producers. It has the scale, expertise and diversity of land holdings to make a real difference, for its own benefit and for the New Zealand farming community in general," Jim Anderton said.
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"This government has high expectations of its SOEs," Agriculture Minister Jim Anderton said today, congratulating Landcorp on its financial performance. "Over the last twenty years Landcorp has paid the public of New Zealand $400 million in dividends. This has all come from tax paid profits and the sale of some non-core assets."
Jim Anderton was opening Landcorp's 20th anniversary Conference in Wellington today. He noted that the journey has not always been smooth. "In its early days there was strong pressure for asset sales and Landcorp was lined up to be sold along with many other state owned enterprises. The property business was sold and the farming business would certainly have gone the same way were it not for the numbers of Treaty claims and court injunctions preventing sales.
"But when you have sat around Cabinet pondering the costs of having to buy back an airline, buy back rail tracks and start a bank because selling all of those businesses turned out to be a mistake − then you can see why this government decided there would be no more strategic asset sales."
Landcorp is not only one of New Zealand's largest farming businesses, it is also significant in world terms. It produces each year over 9-thousand tonnes of milk solids, 3-thousand tonnes of venison, close to 9-thousand tonnes of sheep meat, more than ten thousand tonnes of beef and 3-thousand tonnes of wool.
Jim Anderton also acknowledged the contribution Landcorp makes to the farming industry. "It contributes advances in livestock breeding, nutrition and management, for example. Innovation is crucial to the continued success of our agricultural economy.
"As global awareness grows about the environment, animal welfare, food safety and social responsibility, Landcorp will be able to differentiate itself from other primary producers. It has the scale, expertise and diversity of land holdings to make a real difference, for its own benefit and for the New Zealand farming community in general," Jim Anderton said.