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More NZ investment

This article was originally published in Foodnews

JAPAN's Mitsui has increased its stake in Synlait to 22.5% from 14% by converting a part of its debt to equity. Mitsui bought into the New Zealand dairy last year (FOODNEWS 22 June 2007). Synlait's new milk powder plant, south of Dunsandel, started production in August and will make about 30 000 tonnes of dairy products, mostly whole milk powder, for export primarily to Asia and Middle East countries.

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