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NZ boost from Goodman Fielder strategy

By Phil Boeyen, ShareChat Business News Editor

Monday 17th September 2001

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Goodman Fielder (NZSE: GMF) says its edible oils business in New Zealand will benefit by nearly $10 million in extra sales as part of the company's restructuring.

The company says an internal transfer of business to the Meadow Lea brand in Auckland has created eight extra jobs at its East Tamaki site and makes New Zealand an important part of the trans-Tasman production distribution system.

Head of GMF's in New Zealand, Ron Vela, says the business transfer is part of Meadow Lea's focused factory strategy, which also sees management of the edible oil business move to Goodman Fielder New Zealand.

"This move is further evidence of the emphasis we are placing on transitioning business to New Zealand as we look to maximise manufacturing capabilities throughout the group.

"The additional tonnage from the production transfer will be used to supply the Western Australian and eastern states markets. It also includes production for export to a number of South Pacific markets."

Goodman Fielder says the margarine category, of which Meadow Lea is the market leader, reached a record market share of 54% of the yellow fats market during the previous financial year and continues to take market share from butter.

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