22 July 2008 – New Zealand Dairies Ltd (NZDL), the only foreign-controlled dairy company in New Zealand, is thought to be considering an NZD 100 million (USD75.88 million) investment in its Studholme dairy plant, local media report.
NZDL chairman Peter Lavery would not confirm the amount or rumours that his company was planning to spend the cash on the construction of an anhydrous milk fat plant or a second drier. “There is nothing specific, but it could well be of that order,” he was quoted as saying.
Mr George Sazhinov, Chairman of Nutritek, mentioned possible expansion plans for Studholme upon his company’s increasing its stake in NZDL from 5.65% to 51.52% on 7 June. "Nutritek will now be proceeding with plans to add further production facilities to the NZDL plant at Studholme, South Canterbury, and to develop high-technology and high value-added products in New Zealand," he said in a press release issued by Nutritek at the time.
Nutritek, one of Russia’s three largest milk producers and a baby food producer, has already spent USD60 million on the Studholme facility, which included buying a 5.6% stake in NZDL, and doubling the factory’s original capacity.
Nutritek recently received governmental approval to increase its stake in NZDL to 100% within a year, as reported on FLEXNEWS. The group could be about to acquire a further 25% share in the company.
