Yili’s New Zealand Dairy Group Posts Record $1.58 Billion Revenue
Yili's New Zealand businesses have reported record profits following a major organisational and strategic transformation.
The new plant at Hokitika will secure Westland Milk as one of the world’s leading producers of highly prized bioactive ingredients.
Chinese-owned milk processor Westland Milk Products is building a new $70 million lactoferrin plant at its Hokitika site.
The new plant will secure Westland Milk as one of the world's leading producers of highly prized bioactive ingredients, the company says.
The investment was announced last week by Westland's resident director, Zhiqiang Li, and chief executive Richard Wyeth.
Westland is owned by the Yili Group, the fifth largest dairy company in the world.
The investment will more than treble production capacity of the multifunctional protein at Hokitika.
The plant upgrade follows a $40m investment which doubled consumer butter production at Hokitika, increasing global sales of the prize-winning product upon completion in 2021, including ranging of Westgold butter in US retail giant Walmart.
Lactoferrin is a minor protein in milk with growing international demand across a variety of nutritional categories because of its reported health benefits.
Li says the investment signalled Westland's commitment to take the lead in the high-value bioactive dairy ingredients sector.
"Westland is the only New Zealand commercial manufacturer of bovine colostrum powder and this move will place us in the top three leading global companies in the lactoferrin category, with a market share of approximately 10%," Li says.
"We were one of the first to market with this highly specialised protein ingredient, and over the 20 year have established a reputation as a manufacturer of a product of exceptional quality."
Wyeth says the investment extends Westland's focus on high-value consumer goods and specialised ingredients to leverage its growing international reputation as a producer of premium dairy products and ingredients.
"We cannot improve on the incredible quality of the natural product our farmers produce day after day, but we can ensure that we extract maximum value for that product, and our lactoferrin strategy is a critical part of that," Wyeth says.
"Our bioactive ingredients innovation pipeline is well advanced, and we're excited to be a step closer to bringing these concepts to commercialisation."
Global demand for lactoferrin in the last five years has outstripped Westland's production capacity with demand expected to continue to increase.
Construction of the new plant, which significantly increases production capacity at Hokitika from a current 20 metric tonne per annum, is expected to take 16 months. Construction is currently forecast for the first half of 2024.
With the addiction of spray-dried lactorferrin to complement Westland's freeze-dried lactoferrin range, Westland will be one of the only lactoferrin manufacturers in the world capable of producing both formats on the one site, a unique advantage for Westland's customers.
Fifty Eight years ago, on the 16th of August 1968, August Claas, the founder of the harvesting company and father of Helmut Claas, personally presented a Claas Senator combine harvester to Scottish farmer John Steven.
New Zealand consumers are paying more for beef mince than ever before, with the average retail price now sitting above $24 per kilogram, according to Rabobank.
State farmer Pamu has delivered its strongest operating result on record.
Four years since it was first detected in New Zealand, researchers and growers now know much more about management of maize pest fall armyworm (FAW).
The Government has announced it will pause key parts of Waikato Plan Change 1 (PC1) in a decision that is set to give Waikato farmers a reprieve from new consenting and farm-planning requirements while the wider resource management system is overhauled.
OPINION: The time has come for the Government to back the organic sector.
OPINION: After hogging the media limelight for telling a NZ Chinese MP to "go back home", Winston Peters has decided…
OPINION: With fuel prices soaring, one would have expected most farmers to be reclaiming excise duty on petrol.