Synlait Milk Limited, the New Zealand Exchange NZX-listed milk processor, announced on Wednesday [16 August 2017] a new supply agreement with China’s New Hope Nutritionals for production of their infant formula brands. The agreement secures a threefold increase from current volumes over the five-year period, said a Synlait statement…Full Article: ECNS.cn Aug 2017
- Sichuan Province’s New Hope Nutritionals is in the process of registering its Akara and e-Akara infant formula brands with the China Food and Drug Administration (CFDA).
- In September 2014, New Zealand’s Synlait Milk announced plans to acquire a 25% stake in New Hope Group’s infant formula subsidiary, Sichuan New Hope Nutritional Foods (founded in 2001). New Hope Nutritional markets the “akara” brand of infant formula products in China.
- In May 2014, Synlait Milk (NZE:SML) was registered with China’s Certification and Accreditation Administration.
- In July 2010, Bright Dairy, a Shanghai-based subsidiary of Bright Food Group, acquired a 51% stake in Synlait Milk’s milk processing division.
- Founded in 2000 and headquartered in Canterbury, New Zealand, Synlait Milk (NZE:SML) is a dairy whose product line includes infant formula, milk powder, and dried milk fat.
- Established in 2006 and headquartered in Shanghai, Bright Food Group listed subsidiaries include Bright Dairy & Food (SHA:600597), Shanghai Jinfeng Wine, aka Shanghai First Provisions Store (SHA:600616), Shanghai Maling Aquarius (SHA:600073), and Bright Real Estate Group, aka Shanghai Haibo (SHA:600708).
- Established in 1982 and headquartered in Sichuan province, New Hope Group is one of China’s largest privately owned agricultural conglomerate, with more than 400 subsidiaries and over 80,000 employees (as of early 2013). The firm is China’s largest feed producer with annual production capacity of 26.6 million tons. In addition, it is one of China’s largest suppliers of meat, egg and dairy products.
Hong Kong Trends