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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.