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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.