Worse Is Yet To Come?, page-322

Ibis? Oh I had never heard of that.

My understanding was Fonterra was the result of legislative changes in New Zealand to allow various dairy co-operatives to merge and combine with the New Zealand Dairy Board to become Fonterra and in New Zealand only it is still technically a co-operative. These changes in New Zealand didn't happen until the late 1990's and Fonterra didn't come into existence until 2001.

Up until that time the New Zealand Dairy Board was the marketing authority for all NZ produced dairy product under various brand names for all markets it sold into.

Ibis....I only know of Phil Ruthven's business under that name. I need to read more...