New Zealand Prime Minister John Key on Friday [6 November 2015] officially opened one of the biggest completed Chinese investments in New Zealand, a state-of-the-art infant formula plant in the village of Pokeno, just south of Auckland. The plant represents an investment of 220 million NZ dollars (145.31 million U.S. dollars) by Yashili New Zealand Dairy Co., Ltd., a subsidiary of China’s Yashili International Holdings Ltd. and Mengniu Dairy Co., Ltd…Full Article: ECNS.cn Nov 2015
- Built over a three year period, the Mengniu-Yashili plant will have an annual production capacity of 52,000 MTs and will begin exports to China in early 2016.
- In 2014, Yashili recorded a net profit loss of 40% due to poor demand and rising costs.
- From 2013 to 2014, Yashili’s market share in China decreased from 5.1% to 4.6%. In addition, rival Beingmate Baby & Child Food Co. announced a 72% profit decline during the first half of 2014.
- In June 2013, China Mengniu Dairy agreed to purchase a majority stake in Yashili International for over HK$11 billion ($1.42 billion). Mengniu bought its 75% stake in Yashili from chairman Zhang Lidian’s family and from the Washington DC-based Carlyle Group (private equity firm).
- Founded in 1999 in Inner Mongolia, Mengniu Dairy is one of the leading dairy product manufacturers in China, with “MENGNIU” as its core brand.
- Founded in 1983 and headquartered Guangdong province, Yashili International Holdings Ltd. is one of the leaders in the pediatric milk formula industry, as well as having a leading position in the soymilk powder market in China.