By John Boylan
Fonterra looks for sales expansion in China, but CEO Theo Spierings is worried about the EU gaining market share.
Theo Spierings, Fonterra CEO, told the China Business Summit in Auckland that losing Chinese market share to EU competitors is a concern for New Zealand.
Christopher Adams, reporting for the Business Herald, quoted Spierings as saying: “Fonterra was aiming to grow its business in China from about $5bn (€3.05b) in 2014 to $10bn (€6.1bn) over the next five years.”
Spierings went on to say the company would focus on expanding its footprint in smaller, tier-three and tier-four Chinese cities, as well as growing consumer brands through e-commerce channels.
He was not concerned about Chinese companies such as Yashili opening dairy processing units in New Zealand, but what he is concerned about – more