New Zealand dairy processor Synlait faces financial challenges due to supplier departure, abandoned Dairyworks sale, and share price decline; secures $130m loan from Chinese shareholder Bright Dairy.
New Zealand dairy processor Synlait faces financial struggles as over half of its farmer suppliers intend to leave, citing the company's poor performance. Synlait has abandoned plans to sell its Dairyworks cheese business and secured a $130m loan from Chinese shareholder Bright Dairy. The company's share price has fallen by around 80% over the past year, and it is working on a strategy to turn the business around amid ongoing disputes with major customer A2 Milk.
June 03, 2024
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