Wexford Milk Producers (WMP) will be dissolved following a special general meeting earlier this month. The group has been effectively dormant for a decade since the sale of Wexford Creamery and it’s 200m litres of processing capacity to Glanbia Ingredients Ireland (GII, now Tirlán). They received a price of €16.3m from GII for their shareholding. WMP had purchased 70% of the dairy processor from British company Dairycrest in 2010.
More than half the suppliers opted to move to Glanbia following the sale, but almost 40% switched to Strathroy and Arrabawn. The Strathroy suppliers have set up a representative group the South East Milk Producers.
Four resolutions were put to the WMP members on the night. The company was wound up through the appointment of a liquidator. WMP chairman Liam Curtis said the process was done in a way that was most efficient for the members. WMP. While Tirlan suppliers had already received their share of the sale price, the Strathroy and Arrabawn suppliers will only be paid now. The residue of WMP’s assets are being divided on a pro-rate basis among all shareholders.
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Wexford Milk Producers (WMP) will be dissolved following a special general meeting earlier this month. The group has been effectively dormant for a decade since the sale of Wexford Creamery and it’s 200m litres of processing capacity to Glanbia Ingredients Ireland (GII, now Tirlán). They received a price of €16.3m from GII for their shareholding. WMP had purchased 70% of the dairy processor from British company Dairycrest in 2010.
More than half the suppliers opted to move to Glanbia following the sale, but almost 40% switched to Strathroy and Arrabawn. The Strathroy suppliers have set up a representative group the South East Milk Producers.
Four resolutions were put to the WMP members on the night. The company was wound up through the appointment of a liquidator. WMP chairman Liam Curtis said the process was done in a way that was most efficient for the members. WMP. While Tirlan suppliers had already received their share of the sale price, the Strathroy and Arrabawn suppliers will only be paid now. The residue of WMP’s assets are being divided on a pro-rate basis among all shareholders.
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