a2MC eyes own processing plant, more Chinese labels
The a2 Milk Company (a2MC) says securing more China label registrations and developing its own nutritional manufacturing capability are high on its agenda.
Once the darling of the stock exchange, the milk processor a2 Milk has been struggling since Covid-19 decimated its infant formula business in China.
Now Australian law firm Slater & Gordon says it has filed a claim against a2 Milk in the Supreme Court of Victoria. The claim is in relation to its disclosure over a nine-month period when it announced four earnings downgrades.
The claim is being brought on behalf of shareholders who allegedly suffered losses after acquiring a2 Milk shares on the ASX and NZX between August 19, 2020 and May 9 2021.
a2 Milk said it had been notified of the legal action and will vigorously defend the proceeding.
