Bank's desire to be part of the solution
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
A2 milk producer a2 Milk Company (a2MC) has nearly doubled its stake in Canterbury processor Synlait Milk.
Synlait announced yesterday that a2MC has increased its shareholding in Synlait, from 9.11% to 17.39%.
“The increased investment from a2MC reflects an increasingly close relationship and long-term commitment from both organisations to the continued growth and success of their partnership,” Synlait Milk says.
The announcement came a day after a2MC and Fonterra jointly launched Anchor a2 fresh milk in New Zealand.
The two milk processors are also looking at processing infant formula, butter and cheese from A2 milk. Synlait is the currently the sole manufacturer of A2 infant formula milk powder for a2MC.
Sydney-headquartered a2 bought 14.6 million Synlait shares early last year shares at $3.275 apiece from Dutch dairy processor Royal FrieslandCampina.
The Dutch co-op took a stake in Synlait when it went public in 2013, buying shares at $2.20 apiece in the float, but signalled a change of tack in the investment when it didn't acquire further stock in a capital-raising.
Chinese company Bright Dairy holds a 39% stake in Synlait Milk.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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