Mataura Valley an easier target for A2 after breaching covenants

Mataura Valley an easier target for A2 after breaching covenants
Brent Melville
Milk formula exporter Mataura Valley Milk has breached its banking covenants and said it will require a financial lifeline by December to keep its head above water - making it a likely investment target to help A2 Milk scale up its manufacturing capacity. The Southland processor plunged to a $47.1 million loss on the back of high start-up and loan-servicing costs in calendar 2019. It said it will face a funding shortfall of $26 million in 2020, with an additional funding line now necessary to keep its plant running past December.  Mataura...

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