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"They overstretched themselves": Synlait faces further problems

Author
Newstalk ZB,
Publish Date
Tue, 4 Jun 2024, 7:38am
Photo / NZME
Photo / NZME

"They overstretched themselves": Synlait faces further problems

Author
Newstalk ZB,
Publish Date
Tue, 4 Jun 2024, 7:38am

There are more problems for struggling dairy processor Synlait. 

The Canterbury-based organisation told yesterday's Australian securities exchange that more than half of its 280 suppliers want to leave. 

It comes after the company posted a $96 million half year loss in April. 

Ashburton-based supplier Willy Leferink told Mike Hosking that it's a company problem, not an industry one. 

He says Synlait overstretched themselves when they built a plant in the North Island a couple years ago and made some other regrettable decisions. 

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