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

 

Joint venture company commences operations in Rolleston

Joint venture company commences operations in Rolleston

Pure Nutrition Ltd (PNL) the joint venture company formed by Ausnutria and Westland Milk Products, has commenced operation in the Izone business hub near Rolleston.

PNL is a stand-alone blending and canning company. It will can milk powders and other nutritional products sourced from Westland for Ausnutria and other customers. The company was established through an initial investment by Ausnutria of NZ$4.5million cash, and the transfer to Pure Nutrition of land owned by Westland at its Rolleston site, which had a value of NZ$3million. Ownership is 60% Ausnutria and 40% Westland Milk Products.

Pure Nutrition General Manager Terry Wu says the Rolleston plant has received all of its certifications from New Zealand’s Ministry for Primary Industries and can now export non-infant formula to every country. Chinese registration for infant formula is pending and expected to be completed soon.

The factory opened with 24 staff and Mr Wu says this is likely to expand, especially once they start processing for Ausnutria’s China market. The plant is capable of canning 30,000 tonnes of nutritional product per year when running at full capacity.

Ausnutria Chairman Weibin Yan said the formation of the joint venture is an important milestone for Ausnutria and part of Ausnutria’s global expansion plan to access premium milk supply throughout the world. Pure Nutrition will be primarily responsible for the production of the Puredo series of products for Ausnutria, with the vision of building Puredo as one of the best formula milk powder brands originating from New Zealand.

Westland Chief Executive Toni Brendish said the joint venture relationship was an important part of the partnership between Ausnutria and Westland and the agreement also provided Westland access to the canning plant to process product destined for customers other than Ausnutria.

“Pure Nutrition is effectively, a substantial new customer for Westland Milk Products,” Ms Brendish said. “In addition to the direct sales to Ausnutria in China, which will continue, Westland will be the joint venture’s supplier of dairy based powders for Ausnutria and other customers looking for high class canning facilities”.

The joint venture has a five-year establishment phase, during which profits will be re-invested into the business, after which dividends will be paid to both partners.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>


Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>