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- Release Date: 28/04/14 11:21
- Summary: GENERAL: SML: Synlait Milk well positioned for China's regulation changes
- Price Sensitive: No
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SML
28/04/2014 09:21
GENERAL
REL: 0921 HRS Synlait Milk Limited (NS)
GENERAL: SML: Synlait Milk well positioned for China's regulation changes
The Ministry for Primary Industries expects Synlait Milk to receive
registration by the Certification and Accreditation Administration of the
People's Republic of China (CNCA) as an exporter of finished infant formula
into China.
Regulation changes governing China's infant formula industry come into force
on 1 May 2014, aimed at lifting the quality standards required of
manufacturers supplying that market.
Synlait Milk has been fully engaged in the process, choosing to position the
Company around CNCA's desire for international manufacturers exporting infant
formula product to China to have committed milk supply, wet blending and
spray drying, dry blending and consumer packaging on site.
Synlait Milk has also been working with its three brand partners Bright Dairy
& Food Co, Ltd., New Hope Nutritional Foods Co., Ltd and The a2 Milk Company
in anticipation Chinese officials would require a close association between
the brand owner and the manufacturer.
Synlait Milk is now part of a group of New Zealand dairy manufacturing
companies working through a process to achieve registration.
Synlait Milk's recent interim report outlined the regulation changes were
likely to result in a short term reduction on sales of finished infant
formula and nutritional products into China, however it expects long term
objectives to be achieved.
China is an important market for Synlait Milk with its finished infant
formula business expected to be a significant earner in future.
Synlait Milk continues to work with its first tier multinational customers
for the supply of infant formula ingredients and finished products outside of
China.
End CA:00249794 For:SML Type:GENERAL Time:2014-04-28 09:21:12
