China 15.12.2023

Bright Dairy stands firm in support of Synlait amidst recovery

Source: The DairyNews
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Synlait's majority shareholder, Bright Dairy of China, has expressed unwavering support for the Canterbury milk processor as it endeavors to bounce back from a challenging period.
Bright Dairy stands firm in support of Synlait amidst recovery
During Synlait's annual meeting, Julia Zhu, Bright's leading representative on the board, affirmed that Bright's commitment to Synlait remains steadfast. She emphasized that Bright Dairy sees itself not just as a shareholder but as a significant stakeholder deeply invested in the history and future success of Synlait.

Zhu stated, "We place tremendous value on the stability and sustainability of Synlait’s operations and its continued development. Our hope is to see Synlait deliver increased returns to all shareholders and stakeholders, not just in financial terms but in broader ways that reflect the share value and aspirations."

With a 39% ownership in Synlait and four board seats, Bright Dairy holds a substantial position in the company. Zhu highlighted the positive working relationship established by Bright directors on the Synlait board with other members.

Addressing Synlait's performance, Zhu acknowledged the evolving business environment. She pointed out that, as the third-largest player in China's dairy industry, Bright Dairy considers its investment in Synlait as a crucial gateway to resources and capabilities in advanced dairy-related nutrition. This extends beyond infants and children to encompass adults and the elderly demographic.

Bright Dairy's endorsement underscores its confidence in Synlait's potential for growth and contribution to the broader dairy industry, aligning with their vision for a stable and prosperous future.

Earlier we wrote: Synlait Search for New Chair

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