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- Release Date: 14/02/14 10:42
- Summary: GENERAL: SML: Board approves increased scope for lab and admin facility
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SML
14/02/2014 08:42
GENERAL
REL: 0842 HRS Synlait Milk Limited (NS)
GENERAL: SML: Board approves increased scope for lab and admin facility
The Board of Synlait Milk has approved a change in scope to the planned
quality testing laboratory and administration facility.
The scope of the new laboratory has been significantly expanded from chemical
and physical property testing to include full microbiological testing as well
as integrated facilities to support new product development.
The scope of the new administration facility has been expanded to incorporate
extra capacity to support growth in the business overtime, and will cement
Dunsandel as the long term headquarters for Synlait Milk.
The total capital expenditure required to complete both projects is forecast
to be $21.0 million. This is an increase from the prospectus forecast of $8.4
million. Both facilities are expected to be completed by February 2015.
End CA:00246994 For:SML Type:GENERAL Time:2014-02-14 08:42:17
