Monday 19th July 2010 |
Text too small? |
Synlait, the milk processor that abandoned a $150 million share sale last year after a tepid response from investors, is set to announce it has found a new backer.
The Canterbury-based milk processor will hold a media conference at noon today to announce “a new partnership with a major participant in the international dairy industry,” according to an emailed advisory note. The partnership involves “a significant investment in Synlait’s processing operations at Dunsandel, Canterbury, to further its value added strategy”.
Synlait, which aims to expand its milk powder capacity, is seeking funds to build a second drier at its main site. It currently processes 70 million litres of milk a year, according to its website.
Present shareholders include Japan’s Mitsui and Co, which acquired a 14% stake in 2007 for $13.5 million, implying a capitalisation of $96 million. Mitsui also made a further $16.5 million loan available to Synlait at that time.
Businesswire.co.nz
No comments yet
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report
Devon Funds Morning Note - 30 April 2024
New Rural Advocacy Hub to be launched at Fieldays 2024
Serko signs five-year partnership renewal with Booking.com
NPH - 2024 Half Year Results Announcement Date