Posts tagged "Synlait Milk"

Synlait launches bold environmental sustainability programme

[28 June/The Country] Synlait Milk marked its 10th year in business by launching a sustainability programme designed to lead it through the next decade. It featured bold impact reduction ambitions. The main one being to reduce greenhouse gas emissions by 35 percent per kilogram of milksolids on farm and 50 percent off farm by 2028....

Westland, Synlait forecast higher milk prices after Fonterra hike

[1 June/The Country] A bullish outlook for butter prices encouraged Westland Milk Products to increase its farmer payout forecast from $6.75 to $7.20 per kg of milksolids for 2018/19. This compares with $7.00 for Fonterra and Synlait Milk. Westland Chairman, Pete Morrison, said the coming season’s forecast was driven by an improved sales outlook. He...

A2 Milk Co signs exclusive deal in South Korea

[16 April/NZ Herald] The A2 Milk Company (‘a2’) has signed a distribution deal with Yujan Corp to promote and distribute a2 branded products in South Korea. The products will be sourced from New Zealand and Australia, with nutritional products produced by Synlait Milk. The company’s shares rose 16 cents. a2 Managing Director, Geoff Babidge, said...

Synlait to double lactoferrin capacity following new supply agreement

[9 April/NZ Farmer] Synlait Milk secured a multi-year supply agreement that will underwrite an $18 million investment to double lactoferrin manufacturing capacity at its Dunsandel plant. The agreement was with a confidential customer. The Dunsandel expansion is expected to be completed by October. Synlait Managing Director and Executive Officer, John Penno, said lactoferrin was a...

Chinese-owned dairy firm plans NZX listing

[29 March/The Country] Milk New Zealand planned to list a company on the NZX within 3-5 years. Milk NZ Managing Director, Terry Lee, said it would give dairy farmers different options for supply and ownership. Milk NZ expanded to become one of the largest dairy farm groups in New Zealand with 29 farms milking 30,000...

Synlait holds steady on its forecast payout to farmers

[29 January/Stuff Business] Synlait Milk is holding firm on its forecast $6.50 per kilo milk solids payout to farmers for the 2017/18 season however it noted that relied on commodity prices staying firm the remainder of the season.  Managing Director, John Penno, said that the price had remained in place since May 2017 but global...

Synlait enters fresh milk market with Foodstuffs South Island

[20 December/The Country] Synlait Milk says it will enter into the fresh milk market in early 2019 through becoming the exclusive supplier of private label fresh milk and cream to Foodstuffs South Island. The company will invest $125 million in a liquid dairy packaging plant and the products will be sold across the network of...

Synlait, A2 Milk shares hit record high

[29 September/New Zealand Herald] The S&P/NZX 50 Index dipped 0.16 points, or 0.002 percent, to 7913.62. Within the index, 26 stocks fell, 19 increased, and five were unchanged. Turnover was $204 million. Synlait Milk and A2 Milk broke records on regulatory approval to retain Chinese market access for infant formula next year. Synlait Milk rose...

New hope for Synlait deal

[23 August/Rural News] Synlait Milk has announced a new supply agreement with New Hope Nutritionals. Synlait Managing Director, John Penno, said that the arrangement will provide certainty of supply for both companies for over five years. New Hope Nutritionals is a joint venture between Synlait Milk and Chinese Dairy company, New Hope that focuses on...

Synlait Milk says US approval for ‘grass-fed’ infant formula delayed by up to a year

[14 August/National Business Review] NZX listed Synlait Milk has said that approval from the US Food and Drug Administration for its ‘grass-fed’ infant formula is taking longer than expected, delaying the launch of the product with US partner, Munchkin Inc. The companies had expected to complete the process this year, but now believe it could...

Synlait purchases New Zealand Dairy Company

[30 May/ Dairy Reporter] Synlait Milk has purchased 100 percent of the shares of The New Zealand Dairy Company (NZDC). NZDC is constructing an infant formula capable blending and canning operation in Mangere and will allow Synlait to increase its blending and canning capacity substantially. The acquisition will provide Synlait with a high specification sachet...

Synlait Milk gets FDA ‘GRAS’ notice for lactoferrin

 [27 April/ NZ Herald] Synlait Milk has advised that the US Food and Drug Administration has issued a Generally Recognised As Safe (GRAS) notice for lactoferrin, which means the product can be used as an ingredient in the grass fed infant formula that Munchkin, its US partner, is planning to launch this year.  Lactoferrin is...

Synlait looks to build its shareholding base in Australia

[25 November/ Business Day: NZ Farmer] Synlait Milk has begun trading on the ASX in order to build on its large shareholding base in Australia. The company was already listed on the NZX but wanted to provide more liquidity and access to a larger and more diversified shareholder platform. Synlait Chief Executive, John Penno said...

Milk collection in doubt after earthquakes

 [16 November/ NZ Herald] The North Canterbury earthquakes have resulted in some farmers having to dispose of milk and take steps to maintain production due to road closures and structural issues with farm infrastructure. Fonterra’s Farm Source Chief Operating Officer, Miles Hurrell, said it was contacting and supporting as many of its farmers in affected...

New Zealand’s clean and green image no selling point for Synlait chief

[20 October/ Business Day: NZ Farmer] Synlait Milk Chief Executive, John Penno said New Zealand’s clean, green image was not a selling point for the country’s primary industries. Mr Penno explained that New Zealand did not have a monopoly on beautiful clean green places, although he added that we acted as though we did.  He...

Formula sales drive Synlait Milk to record profit

 [19 September/ NZ Herald] Synlait Milk announced that its net profit for the year to July 2016 was over 200 percent higher than the previous year, reaching a record $34.4 million. The increase was due to canned infant formula volumes being nearly four times higher than in 2015 and growth in powder and cream product...

Synlait reports higher demand for formula

[1 April/ Radio NZ Rural] Synlait Milk has reported a net profit of $10.2 million in the six months to the end of January, compared with a $6.4 million net loss for the same period last year. The South Canterbury dairy company experienced stronger demand for infant formula, allowing them to make a bonus payout...

Synlait cuts milk price forecast

[1 February/ NZ Herald] Synlait Milk has reduced its farmgate milk price forecast from $5 to $4.20 per kilogram of milksolids. Synlait said low international prices were behind the move. Synlait Milk Managing Director, John Penno said things were becoming harder for dairy farmers after two years of unsustainably low milk prices. Mr Penno said...

Dairy prices stuck

[25 January/ NZ Farmer Weekly] Federated Farmers Dairy Chairman, Andrew Hoggard said the two disappointing GlobalDairyTrade auction results in January raised the probability that Fonterra will reduce its forecasted payout. Mr Hoggard said the co-operative should not delay its announcement so the industry know the true picture. ANZ Bank Rural Economist, Con Williams said the...

Synlait production quadruples

[14 December/ NZ Farmer Weekly] Synlait Milk said it expects its production of canned and finished products to quadruple this year. Synlait Milk Chairman, Graeme Milne said the company is now able to deliver the earnings from its nutritional and infant formula strategy after three years of capital development. Mr Milne said that while the...

Synlait profits to bounce back

[28 September/ NZ Farmer Weekly] Synlait Milk has recorded an after-tax profit of $10.6 million for the year ended July 31, down from $19.6 million a year earlier. Its revenue also fell by 25 percent to $448 million as a result of lower dairy prices. Lower than expected sales of Synlait’s new lactoferrin protein product...

Synlait profits halve as milk prices drop

[22 September/ NZ Herald] Synlait Milk’s net profit after tax and unrealised foreign exchange losses has fallen to $10.6 million, a fall of $9 million from last year. Its revenue also dropped to $448.1 million from $600.5 million in the previous year, a fall largely due to the decline in dairy prices. Synlait Milk Chairman,...

Munchkin’s first foray in infant formula marks start of ‘very long-term partnership’ [24 June/ National Business Review]

Munchkin Inc. Chief Executive, Steve Dunn said the marketing of Synlait’s grass-fed infant formula product will be the company’s first foray in the market and that both companies view the partnership as long term. Mr Dunn added that there is a void in the United States market for the grass-fed product, as many cows in...

Grass-fed infant formula venture for Synlait [19 June/ Radio NZ Rural]

Synlait is to partner with United States company, Munchkin in creating a new grass-fed infant formula. Synlait Managing Director, Dr. John Penno said the unique aspect of the partnership was that the product will be solely grass-fed, allowing the company to offer farmers a premium for a high value product in an exciting market. Dr...