Newtownsandes

Zeebsisgone654

Anyone know what happened to Newtownsandes co op , did they find a home for their milk ?

Bellview

I think north Cork Co op are takibg it . Feale bridge are merging with North Cork so the milk pool is all a little closer together.

Zeebsisgone654

Looks like they are going joining North Cork, fantastic for them and the industry

Zeebsisgone654

Confirmed this week, this has been a great year for consolidation in the dairy industry

Water John

Yes good to see a positive outcome and hope the acrimony is over. North Cork ++ will be a handy sized business.

alps

Water John wrote: »

Yes good to see a positive outcome and hope the acrimony is over. North Cork ++ will be a handy sized business.

Any name for the new entity?

Bellview

alps wrote: »

Water John wrote: »

Yes good to see a positive outcome and hope the acrimony is over. North Cork ++ will be a handy sized business.

Any name for the new entity?

Have fealesbridge approved their amalgamation with north cork yet.

PoorFarmer

Bellview wrote:

Have fealesbridge approved their amalgamation with north cork yet.

Last time I called to the store i got a North Cork Co-op docket so i assume they did

Zeebsisgone654

Fealesbridge are full members since May and the name will be North Cork

3 the square

What do the two Kerry creamerys get out of it ??
Do North cork still not have enough milk in peak months ??

Zeebsisgone654

3 the square wrote: »

What do the two Kerry creamerys get out of it ??
Do North cork still not have enough milk in peak months ??

The suppliers of fealesbridge and newtownsandes get guaranteed access to a coop that must process all the milk they can produce , they have their own processing facilities for the first time. Kerry Group stopped processing Newtownsandes milk this year so they had to seek alternative arrangements

3 the square

Zeebsisgone654 wrote: »

The suppliers of fealesbridge and newtownsandes get guaranteed access to a coop that must process all the milk they can produce , they have their own processing facilities for the first time. Kerry Group stopped processing Newtownsandes milk this year so they had to seek alternative arrangements

Do you think they would be better off with Kerry group??

Zeebsisgone654

3 the square wrote: »

Do you think they would be better off with Kerry group??

Kerry Group didn’t want them from what I could see , at least now they have a guarantee their milk will be processed in their own facilities in Kanturk

alps

3 the square wrote: »

What do the two Kerry creamerys get out of it ??
Do North cork still not have enough milk in peak months ??

Even after the amalgamation, North Cork still have quiet a bit of spare processing capacity..

UpTheBoro

3 the square wrote: »

What do the two Kerry creamerys get out of it ??
Do North cork still not have enough milk in peak months ??

For Newtownsandes at least the advantages are that the suppliers (active farmers) get an opportunity to be part of a bigger (and hopefully more successful) entity, thereby providing security for their milk supply and their future livelihoods. They have also been given a generous share up bonus scheme giving them a much bigger stake in their co-op (pre-merger), which translates to a bigger stake per shareholder post merger in NorthCork.

Also, the dry shareholders have been cashed out so they no longer have a stake (or say in how things are run).

In short, this merger addresses many of (perceived or actual) issues and in general it is being well received. You may recall there was some disquiet in the community for the past number of years and the feeling is that this merger will draw a line put all that to bed.

Hopefully it works out for all parties involved.

moll3

is there talk of an injuction being brought forward by the dry shareholders because of the raw deal they got or is that just pub talk

Zeebsisgone654

moll3 wrote: »

is there talk of an injuction being brought forward by the dry shareholders because of the raw deal they got or is that just pub talk

Why would the dry shareholders feel hard done by ?

moll3

11 to 1 dilution in favour of dairy boys

Water John

None of the Coops have really sorted what being a member really is. Easy enough a dairy coop supplies a service to its dairy farmer members but where a drystock farmer buys his inputs from a coop, he too is supplied with a service.
A dry shareholder is one who is not in a position to avail of the services a should not be a member or on the share register.

Zeebsisgone654

Water John wrote: »

None of the Coops have really sorted what being a member really is. Easy enough a dairy coop supplies a service to its dairy farmer members but where a drystock farmer buys his inputs from a coop, he too is supplied with a service.
A dry shareholder is one who is not in a position to avail of the services a should not be a member or on the share register.

In my own coop (DG) dairy shareholders and dry shareholders who spend 4000 ( or maybe it’s 6 grand, can’t remember, it’s one or the other) a year are equal , from memory 2850 milk suppliers and 1250 dry shareholders who are all equal

Zeebsisgone654

moll3 wrote: »

11 to 1 dilution in favour of dairy boys

I guess North Cork want milk and don’t want to pay out money to dry shareholders in redemptions going forward

Water John

Zeeb, what you are calling a dry shareholder is one trading actively in goods but not supplying milk. If the coop is supplying a service to them, then that's it, they cannot differentiate between those two.
The problem arises with what should be termed, inactive shareholders. These may be retired etc. If the coop is keeping their register up to date, few do, then their shares should be redeemed as the coop cannot offer them a service.

Zeebsisgone654

Water John wrote: »

Zeeb, what you are calling a dry shareholder is one trading actively in goods but not supplying milk. If the coop is supplying a service to them, then that's it, they cannot differentiate between those two.
The problem arises with what should be termed, inactive shareholders. These may be retired etc. If the coop is keeping their register up to date, few do, then their shares should be redeemed as the coop cannot offer them a service.

I agree , in my opinion inactive shareholders need to be got off the register ASAP, huge progress made in DG has seen about 2000 come off the register, they are active in keeping it up to date now

Water John

Yeah, when DG were spinning out REOX and having other votes those 2,000 were wheeled and bussed in. They might enforce their trading rules on committee members and Board Directors as their at it, conveniently ignored on occasion. Won't derail this and best wishes to all involved.

Zeebsisgone654

Water John wrote: »

Yeah, when DG were spinning out REOX and having other votes those 2,000 were wheeled and bussed in. They might enforce their trading rules on committee members and Board Directors as their at it, conveniently ignored on occasion. Won't derail this and best wishes to all involved.

Those people had no vote on the establishment of REOX , my own father sat at home that day , I made a mistake along with the other 90 plus percent. Anyway I wish North Cork well in the future