Synlait doubles profit in tenth year of operations with new tax after profit of US$74.6m

NEW ZEALAND – Synlait, a dairy processing company, has reported a net after tax profit (NPAT) of US$74.6 million, almost double the NPAT of US$39.5 million announced for the same period last year. According to the company, the results for the financial year ending 31 July 2018 (FY18) were achieved in a period of large…

Synlait to invest US$188.9 million on New Zealand’s new infant formula facility

NEW ZEALAND - Synlait, an innovative dairy processing company has acquired 28 hectares of land in Pokeno, North Waikato, worth US$188.9 to establish their second nutritional powder manufacturing site. According to the company, it expects to invest in the currently an undeveloped site in New Zealand’s North Island in the coming years as it establishes…

Synlait Milk partners with Foodstuffs South Island to supply fresh milk and cream

NEW ZEALAND - Synlait Milk has invested approximately US$125 million in an advanced liquid dairy packaging facility in a partnership with Foodstuffs South Island Limited to supply fresh milk and cream from early 2019. According to the company, it is seeking diversification in its business through investment in a range of dairy-based products that will…