Debt-laden Synlait says farmers want out and it needs full $130m shareholder loan

Debt-laden Synlait says farmers want out and it needs full $130m shareholder loan
Synlait chief executive Grant Watson says retention of milk supply remains a critical priority. (Image: Synlait)
Rebecca Stevenson
Struggling dairy processor Synlait has confirmed a significant majority of its farmer suppliers want to leave.In a market announcement to the Australian securities exchange (ASX) on Monday morning – a public holiday in New Zealand – dual-listed Synlait said the exodus of most of its farmer suppliers was expected, given its current performance. It also told the exchange it had given up trying to sell its Dairyworks cheese business. Synlait said in April it valued the Dairyworks business at $120m, writing it down by $31.1m.&...

More Markets

NZX sits out tech rally, trades flat
Markets Market Close

NZX sits out tech rally, trades flat

"We're not overly blessed with big tech names," Generate's Greg Smith said.

Gregor Thompson 23 Sep 2025
Kiwi sinks to 15-year low against euro
Economy

Kiwi sinks to 15-year low against euro

Kiwi may soften further against euro as traders price in cash rate expectations.

Andy Macdonald 23 Sep 2025
Contact to supply gas under all-of-government contract
Markets

Contact to supply gas under all-of-government contract

Contact Energy has signed an agreement with the Ministry of Business, Innovation and Employment to supply about 1.65 petajoules (PJ) of gas a year, starting from Oct 1.Under the new arrangement, Contact will supply seven years’ worth of gas to some 100 Government agencies and ins...

Staff reporters 23 Sep 2025
Seabed miner wants to list on the NZX
Primary Sector

Seabed miner wants to list on the NZX

The mining project has been one of the most hotly contested in NZ.

Ian Llewellyn 23 Sep 2025