DEAR SIR: Everyone should attend meetings of this nature to see how big businesses operate. We, Wexford Milk Producers (WMP), went into this meeting with all the options in the world and came out with none if supplying Glanbia was not an option.
I think it was a scandalous abuse of the privileges of the chair to have only one vote and that at 50% plus one for such a vital decision. Also, to have Glanbia personnel present at a closed WMP shareholders only meeting.
The arguments were totally unbalanced in the ‘yes’ vote favour with five advisers and two Glanbia personnel for ‘yes’! No advisers were allowed in for the ‘no’ side. We have no debts. We have €15m net worth of cheese. What does Glanbia owe? Wexford Creamery were one of the best payers in the country for 30 years plus and now, because for the last couple of years cheddar cheese prices have lagged behind some other milk products, we have to sell to Glanbia. Only 0.2 cent less behind average over the last eight years.
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Some points were clarified by the Glanbia personnel:
On the pension front for Wexford creamery employees, Glanbia is not taking over the pension. It will stay the liability of Wexford Milk Producers. It is supposedly fully paid up and in surplus.
Two-day collection will continue as it is Glanbia policy. No three-day collection. This is forcibly argued and vehemently guaranteed.
All winter milk suppliers will move over to Glanbia winter schemes in 2016.
They promised to pay 70% of the purchase price (€15m) in 10 to 15 years, with nothing built in for inflation.
I have instructed Wexford creamery and all meat factories I supply to stop collecting all levies for IFA and ICMSA from my produce as is my right. They are very fond of the fence – they should have stayed on it.
All of the above are some of my opinions of the AGM and some of the 12 previous workshops I attended. Now is there anyone out there who will process my milk as I do not wish to supply Glanbia?
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DEAR SIR: Everyone should attend meetings of this nature to see how big businesses operate. We, Wexford Milk Producers (WMP), went into this meeting with all the options in the world and came out with none if supplying Glanbia was not an option.
I think it was a scandalous abuse of the privileges of the chair to have only one vote and that at 50% plus one for such a vital decision. Also, to have Glanbia personnel present at a closed WMP shareholders only meeting.
The arguments were totally unbalanced in the ‘yes’ vote favour with five advisers and two Glanbia personnel for ‘yes’! No advisers were allowed in for the ‘no’ side. We have no debts. We have €15m net worth of cheese. What does Glanbia owe? Wexford Creamery were one of the best payers in the country for 30 years plus and now, because for the last couple of years cheddar cheese prices have lagged behind some other milk products, we have to sell to Glanbia. Only 0.2 cent less behind average over the last eight years.
Some points were clarified by the Glanbia personnel:
On the pension front for Wexford creamery employees, Glanbia is not taking over the pension. It will stay the liability of Wexford Milk Producers. It is supposedly fully paid up and in surplus.
Two-day collection will continue as it is Glanbia policy. No three-day collection. This is forcibly argued and vehemently guaranteed.
All winter milk suppliers will move over to Glanbia winter schemes in 2016.
They promised to pay 70% of the purchase price (€15m) in 10 to 15 years, with nothing built in for inflation.
I have instructed Wexford creamery and all meat factories I supply to stop collecting all levies for IFA and ICMSA from my produce as is my right. They are very fond of the fence – they should have stayed on it.
All of the above are some of my opinions of the AGM and some of the 12 previous workshops I attended. Now is there anyone out there who will process my milk as I do not wish to supply Glanbia?
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