28 Feb 2014

Two iwi to own dairy product firm

11:19 am on 28 February 2014

Two tribes, Tainui and Ngai Tahu, are to own a local and international dairy technology firm, Waikato Milking Systems.

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The Hamilton-based company designs, makes and supplies products for milking cows. Its technology is distributed in New Zealand and more than 30 countries.

Three groups, Tainui Group Holdings, Ngai Tahu Holdings Corporation and Pioneer Capital, will own the company from the end of March.

Tainui Group Holdings chief executive Mike Pohio says it's been eyeing up the well-run company for sometime. He says it has the potential to get bigger - which could mean more jobs.

Mr Pohio says it's an added bonus that Waikato Milking Systems is a local company.