New Zealand Agri-Business Partner

Adding Depth & Experience

Wallace Corporation Limited Continues to Add Depth and Experience to its Board of Directors with New appointments

Waikato-based agri-processor, Wallace Corporation Limited announced today that it has bolstered the depth and talent of its Board of Directors with the appointments of former AgResearch CEO Dr. Andrew West and leading environmental lawyer Andrew Green.

Chairman and Managing Director James Wallace said the move to further enhance the Company's corporate governance represented a strong statement regarding Wallace Corporation's future plans.

"We are delighted to welcome Dr. West and Mr. Green to the board table and to have the additional skills and expertise of such high quality people with the relevant skills for where we are taking the business. The appointments reflect and advance Wallace Corporation focus on sustainability as a foundation for efficient operations and meeting the needs of our customers, suppliers and community," he said.

Company CEO Graham Shortland and CFO Aiden Tapping will also join the existing directors, Mr. Wallace and John Luxton, on the Board.

Dr.West leads strategy, research and development at Morrinsville animal nutrition firm Seales. He is also on the board of Waikato Innovation Park and its subsidiary the Waikato Food Innovation hub, and is Chairman of its other subsidiaries Dairy SolutioNZ and Beef SolutioNZ. He was Chief Executive of AgResearch Ltd from 2004 to June this year and has led several other Crown organisations. He is the recipient of several awards including the Royal Society of New Zealand’s Thopson Medal for Outstanding Leadership of Science (2009) and is a Fellow of the New Zealand Institute of Management.

Resource management and environmental law specialist Andrew Green acts for local authorities and central government, and also advises commercial and commercial property clients on resource management matters. He provides strategic and legal advice on major infrastructure projects including roading, landfills, recycling centres and wastewater treatment plants, and advises organisations in the mining and quarrying sectors on environmental issues.

About Wallace Corporation Limited

The privately owned company is a diversified agri-processor with an annual turnover of around $200 million. Wallace Corporation operates red meat, tanning and rendering businesses with special expertise in supporting the dairy and chicken industries. Within the broader Waikato Wallace is synonymous with its casualty stock collection service which assists sustainable dairying in the region. Its processing operations are based within Wallace’s 400ha of central Waikato dairy farm land. These farms milk in excess of 1,200 cows and supply both the Tatua Co-operative Dairy Company Limited and Fonterra. Wallace also owns two additional dry stock properties.

The company's vertical integration from farming through slaughtering to meat exporting, rendering and hide tanning production is unique in the primary sector. Formed in 1994 Wallace Corporation consolidated several businesses. One of those businesses had been operating a rendering plant at Waitoa since the early 1930’s, and was purchased by Mr JD Wallace in 1939. The other businesses were established later by James H Wallace. Today Wallace employs up to 600 employees seasonally and exports over 80 percent of its sales to the USA, Canada, Europe, Australia, Asia and the Middle East.

Wallace Meats operates up to 7 days a week and exports quality Halal beef and co-products to numerous markets internationally. Its processing chain has been designed in such a way that will allow calves and cattle to be processed on the same day giving excellent flexibility which makes this plant unique in the industry.

In addition to supporting commercial meat processors Wallace Tannery takes advantage of the supply of casualty calves and cows collected by WCL throughout the greater North Island. Wallace Tannery has the technical expertise and equipment to process from the lightest slink skins up to the heaviest bull and ox hides producing product which is demanded and recognised by its customers worldwide.

Wallace Rendering operates the largest service rendering plant in New Zealand with a raw material catchment area covering the Waikato, South Auckland, King Country, Bay of Plenty and Northland. The Rendering Plant situated at Waitoa, in the Waikato Region of the North Island, processes approximately 12% of the North Island's renderable material sourced from a number of different animal species including cattle, sheep, chicken, deer and duck. The plant processes over a 120,000 tonnes of material annually including around 25,000 casualty cows, 300,000 casualty calves and an average of 250,000 dead chickens per day. If casualty stock was not collected and processed through the rendering plant it may otherwise end up in ground water, lakes or rivers in the regions.

The Company holds 17 consents, to which there are some 300 plus conditions. This is a commitment that the business takes seriously and is demonstrated with the recent establishment of a separate Environmental Division. The Environmental Division is responsible for managing and monitoring the various consents that the business holds. In addition the Environmental Division operates a significant commercial composting operation for organic material.