Synlait is listed on main board of New Zealand stock exchange

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Synlait is listed on main board of New Zealand stock exchange

(People's Daily Online) 17:33, August 07, 2013

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The bell tone at 11 a.m. on July 23 in New Zealand stock exchange announced that Synlait Milk was formally listed on the main board of New Zealand stock exchange as a new comer.

During the past 32 months since Bright Food Group acquired the majority stake of New Zealand-based Synlait in November 2010, huge changes have happened to Synlait thanks to the mutual cooperation and support of both parties. In addition to seeing the stable growth of quality raw milk provision, Synlait has paid good price to dairy farmers for two years in a row. The first overall pasture evaluation system ISO65 was introduced by Synlait in Oceania, which was proved to be an inspiring incentive policy for pastures improvement, so as to award pastures with sound performance. Synlait also saw a stable growth in its gross profit thanks to its powerful sales team. What’s more, Synlait successfully became the long-term dairy product provider for multiple advanced dairy and food companies.

Used as the manufacture base for Bright Food Group’s high-end infant formula milk powder brand - Pure Canterbury, the successful completion of No. 2 plant in Synlait opened up a nice manufacture space to the newly merged Synlait. In response to its increasingly growing business volume, Synlait offered more than 100 job opportunities for local residents, making great contribution to local economic prosperity.

Synlait, based on its consolidated business performance, has won recognition from all walks of the society and has been awarded many regional and national honors. During his visit to Synlait, Mr. Jia Qinglin, the former Chairman of the CPPCC of China, also expressed his recognition to the booming subsidiary of Bright Food Group.

With the raised capital of 75 million NZ dollars on hand, Synlait will, among others, invest more into lactoferrin manufacture facilities, infant milk mixed filling line, warehouse, laboratory, butter factory, drying tower so as to optimize its current industry chain, enlarge manufacture and logistics scale, thus boosting profit-making capability and laying down a solid basis for its future development.

Standing out as the first overseas M&A deal and the first “going-out” project undertaken by Bright Food Group, Synlait now emerges as the first merged overseas enterprise listed on overseas stock exchange with the aid of its domestic and foreign parties. To live up to the expectations of Synlait, both parties have gone a long way with solid support given to each other and sound investment return secured as an award to their dogged efforts in preliminarily realizing the shared strategic goal.

To help Synlait go public is not only a great test for Bright Food Group to chasten and demonstrate its oversea management competence, but an ideal chance for Bright Food Group to build a favorable image and new financing platform in global capital market. We have every reason to believe that after listing, Synlait will make great contributions to Bright Food Group’s brighter future.

（Editor：ChenLidan、Wang Jinxue）