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Fonterra Offshoot Takes Corporate Reputation Award In Chile

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Dec 24 NZPA - Fonterra's Chilean dairy business Soprole has topped a corporate reputation survey of consumers.

Soprole, 99.8 percent owned by Fonterra, has risen from seventh place since the survey was first taken in 2002.

Soprole took first place ahead of Coca-Cola and Nestle, which had previously occupied the leading positions.

The survey of more than 4000 consumers in Chile takes into account products, social responsibility, management, working environment, financial performance and innovation.

Fonterra, the world's biggest dairy exporter, in April increased its shareholding in Soprole, which has a 35 percent share of the domestic consumer dairy market.

Soprole also accounts for half the dairy exports leaving Chile for countries such as Mexico and the United States.

Fonterra suffered damage to its reputation this year when Sanlu, a company it had a 43 percent investment in, was part of a baby poisoning scandal in China.

At least four babies died, and another 53,000 were made ill by adulterated Chinese milk powders containing melamine.

The debacle is thought to have cost the farmer shareholders over $200 million -- Sanlu is now bankrupt.

NZPA WGT nb kn

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