Yili pumping another $9m into Westland

Construction on the new Westland Dairy Company plant is set to start in 2024. (Image: BusinessDesk)

Mon, 25 Sep 2023

Hongkong Jingang Trade Holding, a unit of Inner Mongolia Yili Industrial Group Co, is pumping another $8.9 million into Westland Dairy Company, according to a notice on the NZ Companies Office.In August 2019, Westland shareholders overwhelmingly supported a takeover bid by Jingang for $3.41 a share.On Monday, sole director Zhiqiang Li said he voted in favour of issuing another 2.6 million shares to Jingang for the same price, payable in cash. The funds are a cash injection for a new lactoferrin plant, a spokespe...

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