The company is still working on the cost of the project, covering the whole supply chain, and believes it can be funded over the next 10 years without going to the industry for more money.
It will replace an existing system 20 years old and no longer fit for purpose, he told the annual meeting in Taurange.
The scale of the investment on top of general business growth will mean an increase in operating costs, especially in years when volumes are lower, but extra needs will be met out of existing funding and future efficiencies.
Grower loyalty payments will be maintained at 25c a tray as will the dividend payout ratio of between 70% and 90% of profit.
Ahead of the meeting Zespri announced two dividends to shareholders including a final dividend of 17c a share for the 2018-19 year, making a total for the year of 92c, boosted by strong earnings.
An interim dividend of 67c for this year will be paid on the same date, August 16, chairman Bruce Cameron said.
This payment uses most of the cash generated from the April sale of Gold3 licences and will be extra to the interim dividend, usually paid in December.
The interim payment is at the mid-point of the 70% to 90% payout policy and reflects the planned operating model spending, Cameron said.
Zespri’s goal remains to achieve $4.5 billion in sales by 2025, up from just over $3b in the latest year.
“To achieve that we will have to avoid distractions, remain focused on growing value, growing markets, building the brand and delivering the world’s best kiwifruit all 12 months of the year,” he said.
