Thursday, 14th April, 2016
Chief Executive Wendy Smith advised that "The SC Chamber Board met with Clandeboye Fonterra Operations Manager Steve McKnight on Monday 11 April asking Fonterra to be a good corporate citizen and return to standard payment terms."
Cash flow is critical to business operations and the SC Chamber is asking Fonterra to operate responsibly and strategically through the challenging issues that are facing our dairy farmers and the significant number of service related support businesses.
Quality business relationships need to be maintained and Fonterra's action has placed serious cash flow constraints on many suppliers. The SC Chamber was acting on requests from members to become involved to try to resolve the current situation.
Wendy Smith CE and John Cannell President of the SC Chamber said they were very pleased that Fonterra had responded so quickly to the concerns that had been raised by the Chamber and that "as a key player in our business community that Fonterra recognized that these extended payment terms had caused considerable pain and bad feelings"
"The decision for any change to this policy now lies with Fonterra, they understand the pain this is causing in our local community" said Wendy Smith.
- See more at: http://southcanterbury.chamber.co.nz/business-connect/news-advocacy/media-releases/#sthash.Pcrb9wx9.dpuf