Synlait forecasts new season payout at $6.50kg/MS, buys Auckland canning plant

Mon, 29 May 2017

By Pattrick Smellie May 30 (BusinessDesk) - Synlait Milk has forecast a payout for the 2017/18 season of $6.50 per kilogram of milksolids, matching Fonterra Cooperative Group, while separately announcing the $33.2 million purchase of the Auckland-based milk powder canning operations of New Zealand Dairy Co. The Dunsandel-based milk processor made both announcements to the NZX this morning, with Synlait expecting its total spending on the canning plant will rise to $56.5 million once the NZDC factory is commissioned in October. "The fa...

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