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.
The Good Carbon Farm has partnered with Tolaga Bay Heritage Charitable Trust to deliver its first project in Tairāwhiti Gisborne.
Education union NZEI Te Riu Roa says that while educators will support the Government’s investment in learning support, they’re likely to be disappointed that it has been paid for by defunding expert teachers.
The Government says it is sharpening its focus and support for the food and fibre industry in Budget 2025.
A European Union regulation ensuring that the products its citizens consume do not contribute to deforestation or forest degradation worldwide threatens $200m of New Zealand beef and leather exports.
A long-acting, controlled- release capsule designed to protect ewes from internal parasites during the lambing period is back on the market following a comprehensive reassessment.
Healthcare appears to be the big winner in this year's budget as agriculture and environment miss out.
OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the…
OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris…