Bank's desire to be part of the solution
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
A2 milk producer a2 Milk Company (a2MC) has nearly doubled its stake in Canterbury processor Synlait Milk.
Synlait announced yesterday that a2MC has increased its shareholding in Synlait, from 9.11% to 17.39%.
“The increased investment from a2MC reflects an increasingly close relationship and long-term commitment from both organisations to the continued growth and success of their partnership,” Synlait Milk says.
The announcement came a day after a2MC and Fonterra jointly launched Anchor a2 fresh milk in New Zealand.
The two milk processors are also looking at processing infant formula, butter and cheese from A2 milk. Synlait is the currently the sole manufacturer of A2 infant formula milk powder for a2MC.
Sydney-headquartered a2 bought 14.6 million Synlait shares early last year shares at $3.275 apiece from Dutch dairy processor Royal FrieslandCampina.
The Dutch co-op took a stake in Synlait when it went public in 2013, buying shares at $2.20 apiece in the float, but signalled a change of tack in the investment when it didn't acquire further stock in a capital-raising.
Chinese company Bright Dairy holds a 39% stake in Synlait Milk.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
OPINION: The distress that the politicians and bureaucrats are causing to the people of Wairoa and the wider Tairāwhiti is unforgivable.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.