November 24, 2014
China deal boosts Miraka capacity
The chair of Miraka says a deal with the market leader in China for ultra heat-treated milk means the Maori-owned dairy processor’s new UHT plant near Taupo will need to quadruple its capacity over the next five years.
The deal with Mengniu, which also involved Shanghai Pengxin and Mengniu, was signed as part of a witnessed exchange of commercial documents during last week’s visit of Chinese President Xi Jinping.
Kingi Smiler says Miraka’s current UHT line, which opened in January to service Shanghai Pengxin, is capable of producing about 240 million UHT branded consumer packs a year.
He says the Chinese companies get the benefit of guaranteed supply without having to to buy shares.
" So these are long term contract arrangements that are being built, thats the existing arrangement we have Shangai Pengxin, and the nature of the arrangment at the moment going forward, is for a generation of mutual benefit and mutual business in long term contracts. And so that can only be good for Miraka and China " says Kingi Smiler from Miraka
FOR THE FULL INTERVIEW WITH KINGI SMILER CLICK ON THE LINK
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