Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Synlait Milk well positioned for China's regulation changes

Synlait Milk well positioned for China's regulation changes

Synlait Milk Managing Director Dr John Penno says the Company remains confident in its nutritional strategy and is encouraged following last Thursday’s announcement by the Ministry for Primary Industries that it expects Synlait Milk to receive registration by the Certification and Accreditation Administration of the People's Republic of China (CNCA) as an exporter of finished infant formula into China.

“The regulatory changes which come into force on 1 May 2014 are an important step forward in lifting the quality standards required of manufacturers supplying that market. We have been fully engaged in the process and have focused on positioning our business around CNCA’s desire for international manufacturers exporting infant formula product to China to have committed milk
supply, wet blending and spray drying, dry blending and consumer packaging on site.

“We have also been working closely with our three brand partners Bright Dairy & Food Co, Ltd., New Hope Nutritional Foods Co., Ltd and The a2 Milk Company in anticipation Chinese officials would require a close association between the brand owner and the manufacturer.

“Synlait Milk is now part of a group of New Zealand dairy manufacturing companies working through a process to achieve registration.

“The impact of these regulatory changes were anticipated in our recent six month report where we pointed to a likely short term reduction on sales of our finished infant formula and nutritional products into China, however we are confident of meeting our long term objectives.

“China remains an important market for us. While our finished infant formula business into China currently contributes a small portion of our total earnings we expect it to be a significant earner in future.

“In the meantime we continue to work with our first tier multinational customers for the supply of infant formula ingredients and finished products outside of China,” said Dr Penno.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news