You are right, Synlait guaranteed supply for the Chinese market for sure, my suggested strategy is for global (growth outside of China). I am not certain when A2M wants to grow/sell her IF and Nutrition products worldwide, can Synlait guarantee the supplies under current contract? If BD decide to leave Synlait in the future, who are to say certificate would not be an issue. One should know doing business in China, permanent partnership with locals is a norm.
MHO only....
Consider Take Over Synlait with Bright Dairy As Partner, page-3
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