Takeover bid?
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
This is the company that has spent millions preparing a greenfield site near Otorohanga to build a new milk plant but is still looking for capital to construct the plant.
The company's loan facility is due to expire at end of this week and a decision on whether the project is still a goer could be made soon.
Fonterra collect most of the milk from around Otorohanga and the co-operative's farmer shareholders are privately opposed to the project. They claim there is no need for more stainless steel capacity and that the NZ milk pool is not growing.
