Tag Archives: China

onterra chief executive Theo Spierings is heading from Europe to China this weekend for meetings with manufacturers who have used contaminated whey powder supplied by the New Zealand dairy giant for use in infant formula and other products. The dairy cooperative is in crisis communications mode as it seeks to do the right thing by notifying that eight unnamed customers …

Fonterra has confirmed the whey powder at the centre of a botulism alert was shipped to customers at the time of its production, meaning it has been in the manufacturing supply chain for more than a year. jobs at home depot In an emailed response to questions from BusinessDesk, the managing director for Fonterra subsidiary NZ Milk Products, Gary Romanov …

New Zealand dairy products giant Fonterra faces another food purity scare after advising eight customers it has found a strain of chlostridium, linked to the deadly disease botulism, in three batches whey protein concentrate used in products including infant formula. home depot job application The concentrate was produced at a single New Zealand manufacturing site in May 2012 and test …

Methven, the tapware maker, will buy its Chinese manufacturer for as much as US$10 million, which it says will improve margins and profits. Auckland-based Methven agreed to buy Heshan, Guangdong province-based Invention Sanitary for four times the manufacturer?s profit in the 12 months ending June 30, 2014, up to a maximum of US$8 million before potential earn-outs, the company said …

The New Zealand dollar is trading near a week low on concern about a slowdown in China, the country’s second-largest trading partner. The kiwi recently traded at 77.81 US cents, unchanged from late New York trading Friday, and down from 78.68 cents at the 5pm close in Wellington. During New York trading, the local currency slipped to its lowest in …

Fonterra Cooperative Group, the world’s biggest dairy exporter, cut the price of its Anmum-branded products in China as the local regulator looks at potential price manipulation by major foreign firms selling into the world’s most-populous nation. The Auckland-based cooperative will trim 9 percent from its Anmum maternal health products in mainland China from next month “to better meet consumer needs …

Rakon’s founding Robinson family, which has the biggest stake in the company and three seats at the board, bought almost 367,000 shares in the ailing GPS components maker last week for about $81,500. The two on-market purchases on July 9 and 11 were at an average price of 22.2 cents per share, and came after the Auckland-based firm said it’s …

Synlait Milk will sell shares at $2.20 apiece before joining the NZX later this month, valuing the dairy processor at $322 million and making it the 43rd biggest company on the exchange. The Rakaia-based company plans to raise $75 million of new capital, and existing shareholders will sell $38.7 million, or 17.6 million shares, in a secondary offer, listing on …

New Zealand officials are again seeking clarification from China after meat consignments were stalled on Chinese wharves for the second time in as many months. Primary Industries Minister Nathan Guy, who is in China on a trade mission, said he learned on Thursday that China had changed meat import rules and is now requiring sign off by a veterinarian directly …

Rakon, the second-worst performing stock on the New Zealand sharemarket in the past year, will sell 80 percent of its Chinese joint venture factory to a Chinese electronics manufacturer for US$18.8 million to reduce debt. Rakon, which will retain a 5 percent holding in the venture, is selling the stake to Shenzhen Stock Exchange listed ZheJiang East Crystal Electronic Co, …