Sharechat Logo

Synlait's licence for China exports renewed

Friday 11th January 2019

Text too small?

Synlait Milk said registration of its Dunsandel plant in the South Island has been renewed by Chinese authorities for another four years.

The company, which makes about 8 percent of its sales in China, said the registration by that country’s General Administration of Customs – GACC – will enable the firm to continue exporting canned infant formula.

Chief executive Leon Clement said re-registration required Synlait to prove it has robust systems for change management, pathogen management and food incident management. A three-day onsite audit conducted by the Ministry for Primary Industries on behalf of the GACC also included a full traceability exercise from raw materials through to export.

“GACC has strict criteria overseas manufacturers must meet to maintain registration, and I’m pleased to say Synlait Dunsandel continues to meet these high standards,” Clement said.

Synlait shares rose 2 cents to $9.22 and have gained almost 32 percent the past year.

The company, which almost doubled its profit to $74.6 million in the year ended July, is currently spending $260 million building a second infant formula plant at Pokeno in Waikato.

The first dryer at the Pokeno site is expected to have an annual capacity of 40,000 metric tonnes. The increased capacity is needed to feed growing demand for infant formula from customers including a2 Milk Co, New Hope Nutritional, Bright Dairy and Munchkin.

(BusinessDesk)

  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: NZ shares follow Asian markets higher on renewed hopes for China-US resolution
Housing Ministry head hints he acted against departed KiwiBuild head Stephen Barclay
NZ dollar heading for 1% weekly slide as outlook weakens
Currency frozen in multi-million dollar Cryptopia theft
NZ manufacturing activity hits highest level since April
Tilt affirms guidance; Dec qtr production misses long-term expectations
NZ dollar extends slide as Philly Fed lifts sentiment in US
January 18th Morning Report
MARKET CLOSE: NZ shares get further lift from positive offshore markets
NZ dollar extends decline amid mixed data

IRG See IRG research reports