Synlait shares take a hammering
Troubled milk processor Synlait's share price is taking a hammering as nervous investors offload their stakes.
Synlait's majority shareholder Bright Dairy of China has thrown its support behind the Canterbury milk processor as it recovers from several years of poor run.
Speaking at Synlait’s annual meeting this month, Bright’s leading representative on the board Julia Zhu said that Bright’s support for Synlait remains steadfast.
She says Bright Dairy regards itself not only as a shareholder “but a significant stakeholder, deeply invested in the history and future success of Synlait”.
“We place tremendous value on the stability and sustainability of Synlait’s operations and its continued development,” she says.
“Our hope is to see Synlait deliver increased returns to all shareholders and stakeholders, not just in financial terms but in broader ways that reflect the share value and aspirations.”
Bright Dairy owns 39% in Synlait and has four board seats. Zhu says Bright directors on Synlait board have established a good working relationship with other board members.
Commenting on Synlait’s performance, she noted that the business environment was evolving.
“As the third largest player in China’s dairy industry, Bright Dairy views its investment in Synlait as a vital gateway to resources and capabilities in advances dairy related nutrition, not only for infants and children but extending to adults and elder demographics.”
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
OPINION: Scientists claim to have found a new way to make a substitute for cow's milk that could have a…
OPINION: The Irish have come up with a novel way to measure cow belching, which is said to account for…