Displaying items by tag: Synlait

Milk processor Synlait is offering a one-off payment of 20c/kgMS to retain South Island suppliers, many of whom issued cessation notices to the company this year.

Last week's approval of a recapitalisation plan for troubled milk processor Synlait is good for Canterbury and gives farmer suppliers a lot of security going forward, says farmer Willy Leferink.

OPINION: It's that time of the year again when milk processors announce their annual results and final milk payout for the previous season.

In a “watershed vote”, Synlait shareholders have approved a recapitalisation plan that hands over control of the listed milk processor to China conglomerate Bright Dairy.

Synlait farmer suppliers are relieved to see the troubled milk processor on the road to recovery.

Troubled milk processor Synlait has dropped plans to sell its Pokeno milk plant in Waikato. However, it will consider offloading the plant if a “compelling offer” was made.

A complaint by Synlait founder John Penno over the listed milk processor’s recapitalisation plan has been dismissed by regulators.

Embattled milk processor Synlait is the latest to increase its forecast base milk price for the 2024/25 season.

A complaint filed by a founder and minority shareholder threatens to derail Synlait’s special shareholders meeting scheduled for September 18.

Synlait is hoping that its proposed recapitalisation plan will help retain its spooked farmer supplier base.