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Campbeltowncowboy Profile
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EX91

Registered: 03-2007
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First Milk/Milk Link Proposed Merger


 What do Milk Link members think of the proposed merger ? Who's got the most to gain and where does this leave DFoB ? emoticon
29/10/2007, 22:51 Link to this post PM via Email   PM via Forum
 
Big Bird Profile
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Re: First Milk/Milk Link Proposed Merger


Looks a decent move to me.

First Milk has more members and 50% more milk, Milklink has a higher turnover and profit.

As a Milklink member I would have some concerns as to why, with First Milks extra production, they are behind financially. I'd also be concerned that they've had to call force majeur on contracts this Autumn because it isn't wonderfully professional. I think from this side Milklink's management might look attractive.

On the Milklink side, I've been very worried that the new Wisemans factory at Bridgewater combined with the current milk shortage could seriously undermine the membership, and have been very tempted to hand in my notice because of this. As a Milklink member, a larger co-op would add some security provided the management was correct.

I'd certainly want to see Barry Nicholls, Chris Page and possibly Ronnie Bell involved in the new co-op if it goes ahead.

I don't know about where the merger leaves DFOB. They looked in a pretty big hole before it was announced.
2/11/2007, 22:23 Link to this post PM via Email   PM via Forum
 
Campbeltowncowboy Profile
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EX91

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Re: First Milk/Milk Link Proposed Merger


Big Bird
 First Milk producers were told the reason for Milk Link profits being higher than First Milk is that your figures include your capital contribution in the profit that makes it look higher.
I would also say we have some very good management in place and think Peter Humphreys has brought in a good team at the First Milk Cheese Co.
11/11/2007, 12:44 Link to this post PM via Email   PM via Forum
 
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Re: First Milk/Milk Link Proposed Merger


quote:

Campbeltowncowboy wrote:

I would also say we have some very good management in place and think Peter Humphreys has brought in a good team at the First Milk Cheese Co.



If you think that's so, why start and continue another topic called 'have corporate parasites taken over First Milk'?

11/11/2007, 13:51 Link to this post PM via Email   PM via Forum
 
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EX91

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Re: First Milk/Milk Link Proposed Merger


That was my quote referring to the non executive directors who gave themselves an increase in renumeration from 22K up to 35K and backdated it to April when our milk price was 17p nothing to do with the executive team.
11/11/2007, 20:09 Link to this post PM via Email   PM via Forum
 
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Re: First Milk/Milk Link Proposed Merger


Can anyone else spot a potential problem looming in the proposed merger plans?

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11/11/2007, 23:54 Link to this post PM via Email   PM via Forum
 
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Re: First Milk/Milk Link Proposed Merger


I don't really know anything about the english co-ops and what size we are talking about here.

But I take it that they have run all this past the monopolies and mergers lot?
12/11/2007, 20:34 Link to this post PM via Email   PM via Forum
 
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Re: First Milk/Milk Link Proposed Merger


Currently going through 'due diligence', if both parties then want to proceed it will have to go past monopolies & mergers.
12/11/2007, 21:09 Link to this post PM via Email   PM via Forum
 
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Re: First Milk/Milk Link Proposed Merger


quote:

Charryman wrote:

Can anyone else spot a potential problem looming in the proposed merger plans?



hmmm. I've said, as a Milklink member, that I think the merger is a good idea, and tried to give balanced reasons why it might appeal to both co-ops.

Get the impression that cambeltowncowboy feels a Firstmilk takeover of Milklink might be more appropriate.

If either party feels that there is a wide gap between them and they are taking on a weaker partner then the whole process is a waste of time.



I may well not be a Milklink member if and when it happens. I might be out of dairying, or I might need the money I have tied up in the co-op for other reasons despite the returns they're promising us.
12/11/2007, 21:32 Link to this post PM via Email   PM via Forum
 
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EX91

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Re: First Milk/Milk Link Proposed Merger


Big Bird
 What gives you that impression?
 I am all for the merger,I just have concerns about some directors thinking they are worth more than 22k and threatning to resign if they didnt get 35K.
I know very little about Milk Link or there members that is why I started this thread!!!!
No dought we will get well rehearsed mettings from both camps but I thought it would be good to find out what the producers thought themselves?
13/11/2007, 0:10 Link to this post PM via Email   PM via Forum
 


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