28 Sep 2010

Chinese firm's investment in Synlait approved

6:04 am on 28 September 2010

The Overseas Investment Office has approved a Chinese investment in a Canterbury dairy processing company.

Bright Dairy, China's third biggest dairy company, will take a 51% stake in Synlait Milk.

Its $82 million investment will allow Synlait to double production at its Dunsandel processing plant and start making infant-formula milk powders for the Chinese market.