Displaying items by tag: Synlait

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.

Troubled Canterbury milk processor Synlait has unveiled a recapitalisation plan - offering new shares worth nearly $218 million to its two largest shareholders.

Canterbury milk processor Synlait has settled a long-running dispute over exclusive manufacturing rights and pricing with a cornerstone shareholder, a2 Milk Company.