Synlait Milk’s $37m kitchen to double infant formula powder

Company News

by Jessica Amir

Dairy processing company, Synlait Milk (ASX:SM1) can now double the amount of infant formula powder it makes, on the back of opening a new $37 million wetmix kitchen.

Synlait says its new kitchen in Dunsandel in NZ, will be able to run both-large scale infant formula spray dryers, taking its powder from 40,000 metric tonnes (MT) to 80,000 MT per year.

The company built the new facility to meet growing demand and relieve ‘pressures’ from its original facility.

The $37 million project was delivered on time and budget, with construction not interrupting its original Wetmix kitchen or business activity.

Shares in Synlait Milk (ASX:SM1) are trading about 0.8 per cent lower to $6.31. 
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.