Synlait names new acting CEO as Watson departs
Synlait Milk Limited (ASX:SM1) has announced the resignation of CEO Grant Watson, who led the company through a challenging period of financial restructuring.
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Synlait Milk Limited
Synlait Milk Limited is a dairy processing company. The Company is engaged in manufacturing of nutritional solutions, value added products and specialty ingredients. It manufactures and sells milk powder and milk powder-related products. It manufactures specialized milk powders for infant formula manufacture and base pediatric powders for blending into finished infant formula, and finished infant formula products. Its products include infant and adult nutritional formulations, functional food ingredients and specialized products.
The infant nutritional powder is a nutritional product. The ingredient products include whole milk powder, skim milk powder and anhydrous milk fat. The specialty product is synlait lactoferrin. The Company has 140,000 metric tons of annual production capacity and packages upto 30,000 metric tons of canned infant formula. It exports its products around the world to Asia, Middle East and Africa and other regions. Its subsidiary is Synlait Milk Finance Limited.
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News
Fonterra expands with NZ$150 million cold storage facility amid strategic growth
Very different news has emerged from two of New Zealand’s dairy majors, Synlait (ASX:SM1) and Fonterra (ASX:FSF).
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A2 Milk shares plunge on weak outlook
A day after seeing its shares rise nicely on the peace pact with Synlait (ASX:SM1), its once key supplier, A2 Milk (ASX:A2M) saw its shares sold off heavily on Monday after reality hit in the form of a moderately OK 2023-24 results but weak outlook.
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a2 Milk and Synlait end bitter feud
Kiwi dairy groups, a2 Milk (ASX:A2M) and Synlait (ASX:SM1), have kissed and made up after their recent split that nearly pushed Synlait to the wall.
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Synlait Milk shares surge 52% after key refinancing approval
Synlait Milk (ASX:SM1) shares jumped 52% yesterday after shareholders approved the first step of a complicated refinancing of the struggling company’s debt and finances.
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High-stakes dairy drama
A high-stakes game of dairy "Russian Roulette" is unfolding across the Tasman between struggling Synlait and its once-close buddy and customer (and shareholder), a2 Milk.
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Synlait’s financial challenges and road to recovery
Another struggling Kiwi-listed company is Synlait (ASX:SM1); its market position has deteriorated with weaker sales, high costs, and a major falling out with its major customer, A2 Milk.
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Synlait Milk’s profit projections plummet
The froth continues to vanish for former boom stock, NZ-based Synlait Milk (ASX:SM1), judging by a surprise slashing of guidance issued Monday morning. In doing so, it confirmed why its shares are down 75% in the past year, with the news that it now expects a loss instead of a small profit for the six months to January 31.
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Synlait reports worse-than-expected annual loss amidst A2 Milk dispute
Kiwi dairy group Synlait (ASX:SM1), currently embroiled in a contentious disagreement with shareholder and customer A2 Milk, has surprised observers by reporting a more significant annual loss for the year ending July 31 than even its pessimistic forecast five months ago had predicted.
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Synlait Shares Soar on a2’s China Approval News
Synlait shares jumped nearly 15% Tuesday on news that Chinese regulators approved partner a2 Milk’s China label baby formula - a2 was up less than 2%.
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