Under Uruguayan tax law, the NZ Farming Systems Uruguay (NZFSU) has been granted the tax rebates around $NZ28 million-$NZ35 million, so as to enable it to meet its tax liability. The said Company is under the takeover target of Olam International for $110 million.

John Parker , the Chairman of the Company told that the overall tax benefits worth $58 million will be provided and the nearly $35 million tax benefits to NZFSU is a fraction of it, which is being bestowed to the Company for meeting their tax burden, after it starts yielding profits in the financial year 2011-12.

He further added that their Company has provided employment to approximately 400 rural people in Uruguay in 31 milking sheds and also provided jobs in construction. They also acquired land stocks for aggravating the future growth.

He said, "We are delighted the Government of Uruguay has recognized the beneficial impact of our operations, in keeping with its established policy to promote investment".

Peter McIntyre, the broker of Craigs Investment Partners also applauded the Uruguayan Government for giving a helping hand to NZFSU.

The takeover offer made by Olam on July 19 needs half the votes of its shareholders to move ahead. The offer will get closed on September 24.