NZ still a target for Chinese dairy firm

  • 9-6-2011

●    Natural Dairy says it is still interested in dairy farming in this country, as well as sourcing "specific dairy products" and/or striking deals with local dairy processors, either "directly or indirectly".
●    It also appears determined to take full control of a New Zealand subsidiary initially fronted by bankrupt businesswoman May Wang, and has indicated it may announce further plans before the end of this month.
●    Since its offer to buy the Crafar farms was turned down by the Government last year, the company has continued to develop a chain of retail stores in China, and has also developed a bottling factory in Jiangxi. It has also organised a high-profile advertising campaign on China's main television channel.
●    Natural Dairy has been suspended from the Hong Kong Stock Exchange for most of the past 18 months, while shareholders - including at least one prominent Chinese billionaire - await details of its plans.
●    On Friday, it revealed it had made a loss of HK$154.3 million ($23.5 million) in the year to the end of May.
●    It lost a similar amount last year. But it remains upbeat about its future, noting that the latest result includes just one month of UHT milk sales from New Zealand. The company has a contract to buy UHT milkfrom a dairy factory set up in Tauranga by Wang.

http://www.nzherald.co.nz/business/news/article.cfm? c_id=3&objectid=10749656


Email to Friend

Fill in the form below to send this news item to a friend:

Email to Friend
* Your Name:
* Your Email:
* Friend's Name:
* Friend's Email:
* Security Image:
Security Image Generate new
Copy the numbers and letters from the security image
* Message: