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

 

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news