Glanbia co-op members urged to vote yes to dairy processing plan

Members of Glanbia Co-op are debating the pros and cons of a joint venture proposal which could see them acquire a 60% stake in Dairy Ingredients Ireland, the Glanbia group’s Irish dairy processing business.

The near 7,800 members are to vote on holding company Glanbia Plc’s joint venture proposal in local polling stations on Nov 13.

The co-op and plc have agreed upon a contract for the joint venture, and it is now up to shareholders to vote upon the formula. The co-op has approved a ‘yes’ vote. More than 50% of members must approve the proposal for it to go through. In effect, they are being asked to take on ownership of milk production expansion plans for the post-quota era after 2015.