Glanbia Co-Op--- would u belive

milkprofit

Are the rumors true are they proposing that the co op buy ballyraggret and virginia and burrow more money for the proposed EXPANSION

whelan1

you tell me, apparently the northeast have already backed it :eek:

PMU

didnt ye already vote against this sort of thing

1murph

I'm gettin sick n tyred of this craic with Glanbia - will they, won't they? Why didn't we just buy the blasted thing when we had de chance? Now there stringing us along about their plans for extra capacity. Meanwhile dairygold pushes on with there own plans

whelan1

if it does go to a vote again there would have to be a much better deal than the last time, alot of people around here are still counting their blessings that we voted no.... alot of people where blinded the last time

fraucan

Glanbia
There are strong rumours that the PLC want the Co-op to fund the purchase of Consumer Foods Ireland, if that was to happen it would totally deplete the value of the Co-op,and it would be worth a lot less than it was in May 2009. Why allow this to happen when the coop has appreciated by more than € 500 ml, in less than 2 years. Another 2009 in a different way. Everyone should be careful down the road.

st1979

The PLC want rid of us farmers. We were very nearly fooled into buying the irish business in the last vote by using the carrot of the money from the co-op shares when farmers were extremely tight for cash. Now farmers are a bit better off and expecting a chance to expand they are using this desire for expansion to cloud our judgement again.
I for one cannot understand how a well run co-op can pay more money for milk price than a well run plc. At the end of the day the cost of expansion will be coming off our milk price one way or the other.
Now i know the argument is used that the plc only wants to invest in the high return business ventures in the U.S. But with high return comes a higher risk. and any sound business will have a mixture of high return/ high risk and low return /low risk. And investing in irish expansion will be a lower return business but but its virtually no risk as the dairy farmer will have their milk price adjusted to reflect market return as we always have done.
We have an incredibly strong and diverse plc thankfully and i for one want to stick with it.

P.S I just hope our farmer board directors are strong enough to make the right decision

JohnBoy

st1979 wrote: »

I for one cannot understand how a well run co-op can pay more money for milk price than a well run plc.

Simple. a PLC is supposed get as much money as possible for it's shareholders.

A co-op is supposed to get as much money as possible for it's suppliers.

They are diametrically opposed aims.

The combined PLC/co-op model can never serve either group to it's fullest.


(this is not an opinion on what should happen in glanbia, simply answering that specific question)

milkprofit

Remember the board do not need a shareholder vote to do this
So get active talk to your board member and other shareholders
Or Do You Want It TO Happen

whelan1

i am sure our farmer board members will keep us informed, sure didnt they serve us well the last time:rolleyes:

Tipp Man

Be nice if Glanbia and Dairygold would have a merger and create a very strong coop that is willing to expand in line with farmers over the next 20 years

It would be a good mix and could be the start of Ireland forming its own Fonterra

whelan1

interesting article on the front of the farming independent

st1979

Funny share prices go up as soon as the 'market' think they are getting rid of the farmers. Seems to be a lot of people around my area who are against it. And i would not be worried about the new plant not being built because the plans are very much moving forward. Its just a pity other processors are not keen to join in and build a super huge plant. It could so easily be done on a contractual basis. There are so many options. And cause we are at a crossroads in the industry the right decisions need to be taught long and hard about. But it seems every idea is how can the plc get away from farmers in as quick a time as possible. I really believe this plc is on the brink of greatness and will start to return money through the co-op in years to come. Already since the vote in kildalton the co-op has gained over 200 million. I don't believe if the vote had of been passed our co-op would of gained that value or i would of been paid a much better price.

Tipp Man

st1979 wrote: »

. And i would not be worried about the new plant not being built because the plans are very much moving forward. Its just a pity other processors are not keen to join in and build a super huge plant. It could so easily be done on a contractual basis.

Maybe i have missed something but these plans which are moving forward - can you direct me to them for Glanbia. I haven't seen anything at all on them - except that they keep putting an announcment back

Also Dairygold have made an open invitiation to Glanbia to join their processing plans - so it is not a case of others not joing in, it is a case of Glanbia not joining in - yet - hopefully that will change in the very near future

st1979

No i can't direct you to the plans but i know a man who can:). I know certain companies who have been approached a while back with regards to the building of the new plant and as far as i am aware these plans are proceeding.
With regards to dairygold i was told that they will not join in on a new plant due to a plc being involved. Maybe i was told wrongly on that. Hope i am wrong because i think the bigger the plant the better
And the location of the new plant is pretty much an open secret think it was in the journal about 9 months ago. The announcement is being held back until there is agreement on who is going to pay for the building of the plant.

Tipp Man

st1979 wrote: »

No i can't direct you to the plans but i know a man who can:). I know certain companies who have been approached a while back with regards to the building of the new plant and as far as i am aware these plans are proceeding.
With regards to dairygold i was told that they will not join in on a new plant due to a plc being involved. Maybe i was told wrongly on that. Hope i am wrong because i think the bigger the plant the better
And the location of the new plant is pretty much an open secret think it was in the journal about 9 months ago. The announcement is being held back until there is agreement on who is going to pay for the building of the plant.

Its hardly much of a plan if they have no idea who's going to fund it - it would seem the plc is less than happy to make the investment necessary to take the irish side of the company into the future

Glanbia in its current guise have no interest in Irish farmers - I mean the guy who bought that big farm in Wexford, Castle Annagh, couldn't get Glanbia to take his milk for the quota he was bringing with him. What kind of pharce is that? He had to get Wexford coop to take it. It shows Glanbia have zero interest in Irish farmers and Irish milk processing

all well and good saying how the share price has gone up but that isn't going to get our milk processed

st1979

I am afraid i don't know the details of the guy in castle annagh. I am not really sure where it is in relation to existing glanbia farms and wexford co-op farms. I know glanbia and wexford creamery do a lot of business together and as such will not accept farmers changing from 1 to the other (i don't agree with it but thats business).
But do you really believe that this plant will not be built if the co-op refuse to buy out the irish business. Not a chance if our farmer elected board members represent the farmers who elected them will there be any lack of processing capacity.
But can you tell me if its true that dairygold co-op will not look at sharing a new plant until we in glanbia get rid of the plc from irish business

whelan1

no word on anything in the journal- well not that i could see anyway- just a bit about another farmer board member being replaced:D- surely this is a major talking point , how could they not report on it, maybe i missed the article... interesting last line in the dealers article that only 6 of the 14 farmer board members who reccommended the previous deal are still there

John_F

was listening to the sunday business show on today fm this morning and around half 10 they were on about glanbia.. they were on about an article in the Sunday Business Post today.. anyone got that paper??

listen back on the today fm podcast thing here > http://media.todayfm.com/podcast/60403/?uniqueID=289982 click ahead to 26 or 27 minutes in

milkprofit

If farmers co op is got rid from plc shares will go over 6 e
The co op put the plc there now is the time for plc to coughf up and build plant
the plc is so strong they can still invest in business to give 15% margin With the right mind set the plc can build with Dairygold and others
GET ON WITH IT

whelan1

apparently there where 2 big glanbia board meetings in the last week, anyone hear anything?

st1979

I think majority of the board members are on for it. But some of the newer members are against it. Those are on for it are the same board members who were all for the kildalton deal.
I see today the the share price is 5.56 so our co-op is worth €885million when kildalton deal was on the table it was around 2.65 per share which valued our co-op at 420 million.
We really need to tread really carefully its all to easy to get carried away with the need to build a new plant. And i am not happy that board members who were so positive with the kildalton deal are still on the board and this time are positive about this deal as well.
I'm sure being on the board is bloody tough and i hope they make the best decision for the owners of the plc. (the co-op)