Growth plans for Westland Milk Products are focused on driving performance and increasing returns to shareholders.
The Hokitika-based independent co-operative dairy company recently held annual district meetings throughout the West Coast, with some regions reporting record turnouts.
Shareholders were presented with an update of the co-operative's growth strategy, strategic actions undertaken since April and details on season performance across its business units.
In the year to date, 14.7% additional milk had been processed at Hokitika. In addition to expansion at Rolleston - where the co-operative planned to build a milk concentrate plant - it planned to expand its nutritional production capability in Hokitika, chief executive Rod Quin said.
Westland's co-operative model had delivered 60% milk growth since 2001 and it was well placed to meet increased demand from its global customer base, having already secured new share-backed milk supply in Canterbury.
While shareholders had decisions to make following Fonterra's approach to West Coast shareholders, the co-operative believed the reasons and opportunities to stay with Westland were still as relevant now as they were back in 2001, Mr Quin said.
After the deregulation of the New Zealand dairy industry in 2001, nearly all the dairy co-operatives amalgamated to create Fonterra. Westland shareholders voted to remain an independent co-operative.
Payout before retentions was forecast to be between $7.60 and $7.80kg/ms this year, with additional payout for colostrum, the second highest payout on record, he said.
