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Press Releases Roles review part of a bigger efficiency drive Westland says

Westland Milk Products announced today that it is conducting a further review of staff roles throughout Westland Group (Westland Milk Products, Westland Shanghai and EasiYo).

The review is part of an overall programme to gain efficiencies and reduce costs to help restore the company to an industry competitive position and provide shareholders with sustainable returns.

Westland Chief Executive Toni Brendish said: “Current payout predictions, while higher than for the last two seasons, are still not where our shareholders need them to be and, for some, will still not be sustainable. We need to get our Group back to returning top value to shareholders.”

The review is likely to result in some staff redundancies but Brendish said she was not going to speculate on how many, or what positions might be affected, until it is complete and any affected staff informed. The review is scheduled for completion by the end of February.

“Westland Group has the capital investment, technical expertise, quality products and resources to recover from last year’s loss and get back to paying shareholders a competitive payout,” Brendish said. “But our current structure, including staff roles, is not set up in the best way to deliver the results we want to achieve.”

Westland will not be making any further statement until the review is complete and any impacted staff informed, Brendish added.

ENDS

Media inquiries to:

Steve Attwood

Communications Manager

E: Communications@westland.co.nz

P: 03 943 0580

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