Sharechat Logo

Turangi Maori land trust brings in Chinese partners for sheep milk expansion

Tuesday 5th January 2016

Text too small?

Waituhi Kuratau Trust, the Turangi-based Maori land trust, has teamed up with Chinese interests to develop its sheep-milking interests as part of a plan to sell into the world's most-populous nation.

The trust sold a leasehold interest in 490 hectares of land in Kuratau to Maui Milk for $1.2 million, which has been slated for development into a sheep dairy farm, according to the Overseas Investment Office summary approving the transaction. The trust owns 40 percent of Maui Milk, with the remainder held by four Chinese nationals. 

"Sheep milk powder produced will be exported to the Chinese market, for sale through the applicant’s distribution network," the OIO said. 

The trust began milking sheep at its 2,715-hectare farm near Turangi in 2005, and largely supplies its milk to cheese and yoghurt makers. 

 

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: Blue-chip stocks Meridian, A2 lead market lower
NZ dollar rises on Brexit hopes, rate cut reassessment
Three not failing, just needs a new owner - MediaWorks CEO
Major investors back new CBL class action targeting directors
Rip Curl purchase a done deal on Kathmandu proxies alone
Comvita chair Neil Craig eyes the exit once he finds a new CEO
Mercury raises guidance on increased storage, high spot prices
Eroad reports strong 3Q sales growth, eyes ASX listing
MediaWorks puts TV business on the block
NZ dollar benefits as preliminary Brexit deal improves risk appetite

IRG See IRG research reports