Posts tagged "Synlait"

Synlait and Tatua lift milk price for the new season

[28 May/Stuff NZ] Synlait has lifted its opening price to farmers for the 2019-20 season to $7 per kilogram of milk solids, but Tatua has gone one better to $7.50. By contrast, last week Fonterra offered a range of between $6.25-$7.25 per kg/MS for the new season, citing the difficulties of forecasting accurately 15 months...

Synlait founder to receive honorary Lincoln doctorate

[01 May/Otago Daily Times] John Penno, Synlait Founder is receiving an honorary doctorate from Lincoln University. Dr Penno stood down as Synlait Milk Chief Executive last year after co-founding the Synlait Group in 2000. Dr Penno received an emerging leader’s award from the Sir Peter Blake Trust in 2009, a Prime Minister’s Business Scholarship in...

Chinese demand still strong

[03 May/Farmers Weekly] China’s dairy demand is steady, and customer feedback is strong according to Miraka Chief Executive, Richard Wyeth. Mr Wyeth expects commodity prices to remain steady for the season ahead, with Chinese demand for New Zealand dairy products continuing to grow. Miraka exports all of its UHT liquid milk and around half of...

Chinese landing eyed for NZ apples

[20 February/Rural News Group] Gourmet apple producer Rockit Global is the latest to join a New Zealand-led collaboration in China. Rockit Global is hoping another New Zealand company, Primary Collaboration New Zealand (Shangahi) Co Ltd (PCNZ) will help to increase its presence and sales in China. PCNZ represents 13 New Zealand brands in China and...

Synlait follows Fonterra with lower forecast farm gate payout

[28 January/The Country] Synlait Milk has cut its forecast payout to farmers for the current season, following Fonterra’s lead, as weaker global demand and strong domestic production weighs on market prices. Synlait now expects to pay $6.25 per kilogram of milk solids for the 2019 season, down from its previous forecast of $6.75/kgMS. The company...

Synlait signs up first Waikato-based milk suppliers

[17 December/Dairy News] Listed milk processor Synlait has announced that it has signed up its first Waikato dairy farmers to supply the company’s new Pokeno plant from 2019/20 season. Synlait’s entry into Waikato region provides suppliers of Fonterra and Open Country Dairy, who have dominated the milk supply base in the dairy heartland, with another...

Fonterra to reward and punish farmers over animal welfare and environment

[11 December/Stuff] Fonterra farmers will receive rewards for better care for the environment and their animals and those that fail to meet standards will be disadvantaged from July next year.  The co-op will also be providing farmers with the ability to fix the price of a percentage of their milk in a hedging scheme from...

Two investors, including former Fonterra executive, join Kiwi company boosting nutrition in food for elderly

[11 October/TVNZ] Two investors joined the Pure Food Co which aimed to boost nutrition in food for the elderly. Synlait Founder, John Penno, and Maury Leyland Penno who worked at Fonterra were welcomed to the company. John Penno would be the chair of the Board of Directors. It was founded in 2013 after Sam Bridgewater...

Fonterra Brands opts for outsider

[14 September/Dairy News] Fonterra has appointed an Executive from outside of its business as the new head of its NZ Brands division. Managing Director of Griffin’s Food Company, Brett Henshaw, has been appointed as Managing Director of Fonterra Brands. He will start the new role in December, replacing Leon Clement, who resigned to become the...

Ebert receivership hits Synlait dairy factory project at Pokeno

[2 August/Stuff] Ebert Construction, who were hired to build Synlait’s new dairy processing factory at Pokeno, are determined to see it completed despite going into receivership. Ebert were hired as subcontractors to the project by Tetra Pak. Receivers said the company owes creditors tens of millions of dollars, largely due to poorly performing projects in...

Clement to take helm at Synlait

[26 June/Farmers Weekly] Leon Clement has been announced as Synlait Milk’s new chief executive and will start in August. He was previously Managing Director of Fonterra Brands. His appointment was the outcome of a global recruitment search following John Penno’s announcement to stand down. Chairman, Graeme Milne, said Leon had led major businesses internationally and...

NZ missing a trick when it comes to selling our food overseas

[18 June/Stuff] Lincoln University Agribusiness Management Senior Lecturer, Nic Lees, said the Government needed to invest in a national food brand. He added Synlait’s infant formula sold in the U.S. was branded as coming from New Zealand grass fed dairy cows, but most New Zealand products were unbranded despite research that showed western consumers viewed...

Fonterra wants law change to end milk pick-up obligation

[9 May/NZ Herald] Fonterra has said that it continuing to have to accept all milk from all farms would be a critical part of the Government’s review of legislation. Agriculture Minister, Damien O’Connor, has announced the terms of reference for the review. Fonterra had long pushed back against the DIRA requirement that it take all...

Synlait posts record first-half net profit

[21 March/The Country] Dairy company Synlait posted a record first-half net profit mainly due to its relationship with The a2 Milk Company and its increased manufacture of high-margin products. Profit increased from $10.2 million in the previous year to $40.7 million in the six months ended 31 January. Synlait expected the second half to not...

Dairy industry expects big day tomorrow

[20 March/Otago Daily Times] The most recent GlobalDairyTrade auction will be followed by the interim reports of both Fonterra and Synlait. Craigs Investment Partners Broker, Chris Timms, said prices were up 12.2 percent from the lows in December and were back at similar levels to the middle of last year. He added that most economists...

Waikato to get new milk powder factory

[27 February/Radio NZ] Synlait is investing $260 million into the development of a new milk powder factory in Waikato. The company said they were buying 28 hectares in Pokeno to build an infant base powder factory, and that they expected the first dryer to produce 40,000 tonnes a year. Synlait’s Chief Executive, John Penno, said...

Milk Producer cuts forecast price

[2 February/ Radio New Zealand] Westland Milk Products has cut its forecast milk price back by more than 20 cents. They are expecting a price of between $6.20 and $6.50 which is relatively similar when compared to Fonterra, $6.40, and Synlait, $6.50. Westland’s chair Pete Morrison stressed that they seek to be fair to all...

Synlait Milk founder John Penno to step down after 12 years at the helm

[29 November/ Stuff] Synlait Founder and Chief Executive Officer, John Penno has announced he will be stepping down from the position within the next 12 months. Mr Penno would continue in a governance role as a director of the board. Synlait Chairman, Graeme Milne said Mr Penno had been an exceptional leader and had left...

Synlait’s $55m Auckland plant doubles canning capacity

[20 November/Stuff] Synlait has a new $55 million blending and packaging plant up and running in Auckland. The new plant put Synlait in a good position to sell increased amounts of infant formula and other products to China. Chief Executive John Penno said the plant gave Canterbury-based Synlait a total canning capacity of 64,000 tonnes....

A2, Synlait boosted by China export registration

[2 October/New Zealand Herald] A2 Milk’s shares reached a new high, increasing 6.5 percent to $6.95. Synlait rose 7.3 percent to $6.29, gaining 88 percent this year. This is due to A2 Milk gaining export registration from the China Food and Drug Administration (CFDA) to allow increased exports of its China label infant formula. A2...

Synlait eyes more branded products

 [26 September/ Rural News Group] Synlait is looking to expand into own-branded consumer products after posting a record net profit of $38.2 million for the year ending July 2017. This profit is a significant increase on the $34.4m posted for the financial year 2016. Revenue was up 39 percent from $546.9m to $759m, and net...

Synlait lifts forecast payout to farmer suppliers on gain in global prices

 [9 February/ New Zealand Herald] NZX-listed dairy company, Synlait Milk, increased the forecast farmer supplier payout by 25 cents to $6.25 per kilogram of milk solids for the current season. Synlait Milk chairman, Graeme Milne, said that foreign dairy prices have improved, and $6.25 is a “realistic estimate for the current season”.  Synlait Managing Director,...

Synlait’s profit jumps as infant formula business grows four-fold

 [29 November/ Business Day: NZ Farmer] Synlait has announced an after-tax profit of $34.4 million for the 2015-16 season, compared to a $10.6 million after-tax profit in the previous year. The dairy company nearly quadrupled sales of its canned infant formula from 4,300 cans to 16,000 cans over the past year. Synlait Managing Director and...

Synlait grows on infant formula

 [25 August/ Rural News] Synlait has reported an increase in canning volumes from 4,300 tonnes in the 2015 financial year to 16,000 tonnes in the 2016 financial year. Synlait Managing Director, John Penno said canned infant formula volumes have grown steadily since the commissioning of a packaging plant in 2015. Mr Penno added that these...