Chinese infant formula maker to open in NZ

Chinese infant formula giant Yashili International Holdings will invest $NZ230 million in a New Zealand milk processing plant, according to the People’s Daily. The plant will be built just south of Auckland. Zhang Lidian, company chairman, said that Yashili still needs to obtain construction, land and resource consents for the plant. The New Zealand Overseas Investment Office (OIO) approved the investment. Yashili has joined a number of Chinese companies investing in the New Zealand dairy industry, the People’s Daily notes. These companies include Bright Dairy, which purchased a 51 percent stake in the Synlait Milk dairy-processing firm in 2010, and Shanghai Pengxin, which purchased 16 North Island dairy farms in 2013.


Tags: Bright Dairy  China  New Zealand dairy industry  People's Daily  Shanghai Pengxin  Yashili International Holdings  Zhang Lidian  

New NAB Chief Ross McEwan Faced With More Repairs

New NAB Chief Ross McEwan Faced With More Repairs

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