Synlait's back
OPINION: After years of financial turmoil, Canterbury milk processor Synlait is now back in business.
A long-running legal battle between milk processor Synlait and New Zealand Industrial Park Limited over historic land covenants on a Pokeno processing site is over.
Synlait has announced that it has reached an agreement with NZ Industrial Park and its owner Karl Ye.
Further details of the settlement agreement will not be disclosed due to confidentiality, but the Canterbury processor says the settlement price was reasonable and not material to Synlait.
“Synlait and New Zealand Industrial Park are committed to working collaboratively for the benefit and integration of the Pokeno community and are pleased to have this behind us,” says Synlait chief executive Leon Clement.
“We are also pleased to provide certainty for Synlait’s shareholders, customers, farmer suppliers and staff.”
In February last year, Synlait announced the conditional purchase of 28 hectares of land in Pokeno to establish its second nutritional powder manufacturing site.
In November, the High Court removed covenants over the land which would hinder Synlait's development of the land. Synlait then took ownership of the land.
In May 2019, the Court of Appeal overturned the High Court decision to remove historic covenants. Synlait then filed an appeal in the Supreme Court.
Synlait says the Supreme Court has been informed that a settlement has been reached.
OPINION: Ministry for Primary Industries' situation outlook for primary industries report (SOPI) makes impressive reading.
Sheep and beef farmers Matt and Kristin Churchward say using artificial intelligence (AI) to spread fertiliser on their sprawling 630ha farm is a game changer for their business.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.
OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.