ADF Call To Arms To Wesfarmers Shareholders
AUSTRALIA - The Australian Dairy Farmers (ADF) is calling on Wesfarmers‟ shareholders to sign up to a resolution calling for a extraordinary general meeting of the company to explain the price cuts to Coles milk, butter and cream.
14 February 2011
2 minute read
The proposed resolution will ask Wesfarmers to stop the price cuts and explain the Coles pricing strategy on milk and other dairy products and how this is consistent with the origins and values of the company.
The resolution will be worded as follows:
That Wesfarmers:
- Explain the Coles pricing strategy on milk and other dairy products and how this is consistent with the origins, values and corporate social responsibility of the company; and
- Refrain from implementing and persisting with the Cole‟s down, down milk and dairy product price reductions.
ADF Vice President Chris Griffin said: "Wesfarmers started out as cooperative. It was built up by farmers for farmers.‟
"We are calling on dairy farmers and their families, owners of corner stores, truck drivers who carry milk, butter and cream, fodder suppliers and consumers to support the resolution to help protect their industry.
There are over 100,000 people employed in the dairy industry in Australia, let‟s get behind the industry and stop this unsustainable pricing. The vast majority of these people are employed in regional and rural areas.
The Australian dairy industry is efficient and competitive but this pricing will ultimately impact the industry dramatically and lead to job losses.
Wesfarmers states that it aims to:
- contribute "to the growth and prosperity" of the countries in which it operates;
- respond "to the attitudes and expectations of the communities‟ in which the company operates; and
- act "with integrity and honesty in dealings both inside and outside the company.‟
Wesfarmers further claims in its section that it has an enormous responsibility to "the communities and families across Australia where the company operates‟.
"Causing a price war that is unsustainable and that will hurt dairy farming families is hardly acting within its values,‟ said Mr Griffin.
Wesfarmers also says that it "adheres to four core values: integrity; openness; accountability; and boldness.‟
Mr Griffin says: "The resolution gives Wesfarmers the perfect opportunity to explain their actions to the people it impacts and prove the price cuts will not affect dairy farmers and their families – now or in the future.‟
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