fbpx
Print this page
Wednesday, 23 August 2017 14:55

New hope for Synlait deal

Written by 
John Penno. John Penno.

Canterbury milk processor Synlait has announced a new supply agreement with New Hope Nutritionals for production of their infant formula brands.

Synlait says the arrangement will provide certainty of supply for both companies over five years.

New Hope Nutritionals is a joint venture between New Hope Group and Synlait Milk Ltd.

“This supply agreement has clarified our infant formula partnership with New Hope Nutritionals for the near future, allowing both of us to plan with confidence,” managing director John Penno says. “The agreement secures a threefold increase from current volumes over the five year period.”

He adds the agreement will also underpin applications to register New Hope Nutritionals’ Akara and e-Akara infant formula brands with the China Food and Drug Administration (CFDA).

Synlait says its infant formula volumes with New Hope Nutritionals and other customers will be met by blending and canning capacity at the company’s Dunsandel site and eventually at its new Auckland plant.

More like this

Synlait braces for heavy loss

Listed Canterbury milk processor Synlait is heading towards its first financial loss ever, but is telling its farmer suppliers not to worry.

More trouble for Synlait

Embattled Canterbury milk processor Synlait has taken another hit, with key customer and shareholder a2 Milk issuing its fourth earnings downgrade.

20 pieces of silver?

A mate of the Hound reckons he's not surprised by the recent announcement the Government is 'partnering' with Lincoln-based company Leaft Foods on a $20 million R&D programme in the alternative protein sector.

National

Wide price range 'realistic'

Fonterra's wide forecast milk price range for the new season is realistic, says BNZ senior economist Doug Steel.

Machinery & Products

Lady muck really does suck

As anyone will attest to – if they’re married to someone with horses, have kids with ponies or are foolish…

The perfect workhorse

Hastings-based Kleer Contractors provides 24-hour machine work and labour for a local food processing plant.