Yashili International, the Chinese company with plans to build a milk processing plant in New Zealand, continues to shrug off the 2008 melamine scandal.
Its plan to build a $210 million milk processing plant in the Waikato town of Pokeno follows a major shift in its business model after the food-poisoning scandal in China, in which tainted milk killed at least six infants and 300,000 more became sick.
Yashili was one of 22 milk producers in China, including former Fonterra subsidiary Sanlu, which failed a government test in 2008 screening for melamine, business editor Duncan Bridgeman reports in today's new-look print edition of the National Business Review.
The incident cost Yashili 787 million yuan ($NZ150 million) that year, including inventory writedowns and compensation payments.
The Zang-family owned company maintains it did not add melamine to its products and blames raw milk dealers for the catastrophe.
Most of Yashili's raw material is now sourced from New Zealand.
A 2010 prospectus mentions a handful of lawsuits against Yashili and those launched by the company against suppliers it claims provided contaminated dairy materials.
Its Waikato factory plans are subject to Overseas Investment Office approval.
Also in today's new-look print edition, Kiwi brand Watties-Heinz uses a local Chinese celebrity in TV advertisements to try and lift sales of its Nurture toddler formula among Chinese-speaking households.
Elsewhere, New Zealand Institute of Building Surveyors president Philip O'Sullivan says the government needs to enact a national home warranty scheme, run by the industry on a non-profit bases, to help solve the leaky homes crisis.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Former fraudster's 'missing' £14 million
- Government ditches private partner to build Christchurch Convention Centre alone
- Slater to take sabbatical from blog site – ‘like Andrew Sullivan’
- Editor's Insight: Brexit bites as investors, pensioners lose trillions
- Fonterra’s new Aussie boss faces some tough hurdles
Most listened to
- Google tax: Spark boss Simon Moutter says everything's above board with Southern Cross' use of tax-haven Bermuda
- Diversity advocate Adriana Gascoigne says companies with women on their boards are worth more
- The Brexit Special Edition of Foreign Affairs Scope with Nathan Smith
- In his Editor's Insight Nevil Gibson sees the worst Brexit fears realised
- The Australians doing it better? Chapman Tripp partner Roger Wallis explains