Dairy company Yili says it plans to make the newly acquired Westland Dairy company part of its global dairy network.
(file photo) Photo: RNZ
The Chinese company has just completed the 588-million dollar purchase of Westland after an overwhelming majority of shareholders accepted its premium offer and promise of milk prices to match Fonterra.
Westland was put up for sale after years of underperformance, big losses, poor sales, heavy debts and an inability to pay farmers top prices for their milk.
Yili already owns the Oceania Dairy company in South Canterbury, and says it will make Westland part of its global network as it creates a 'dairy silk road'.
It says it plans to diversify Westland's production.