Shanghai Pengxin owned Milk NZ takes out NZ China awards

NZ Herald

7 May, 2015 11:10 AM2 mins to read

Synlait Milk.

Milk New Zealand Holding Limited has been announced as the supreme winner at the 2015 HSBC NZCTA New Zealand China Business Awards.

New Zealand China Trade Association Chairman Martin Thomson said the winner proved the benefits of direct investment by China in New Zealand.

"Investment tends to follow trade, and more trade still results from direct investment," Thomson said.

"New Zealand's largest foreign investor is Australia, which was also our first free trade partner.

"It stands to reason, then, that China - which is now number one or two trade partner, will invest more and more in New Zealand. On the basis of Milk New Zealand Holding Limited, further investment is a good thing."

Milk NZ is owned by Shanghai Pengxin, the investor in Crafar Farms.

The company has turned around Crafar's less productive farms, using New Zealand management, labour and skills, and creating jobs in the process, Thomson said.

"Chinese investment has created New Zealand opportunity, at the same time providing a Chinese company with returns."

The awards recognise organisations conducting doing business between New Zealand and China specialising in trade, tourism, investment and supply chain innovation, Thomson said.

More than 500 people attended the awards ceremony at the Viaduct Events Centre.

Finalists included Fisher and Paykel Appliances, Comvita, Whale Watch Kaikoura Ltd, WINTEC, Natural History New Zealand, Synlait Milk Ltd, NZ Focus, Glacier Investments, Ngaitahu Tourism, YHA New Zealand, Yashili New Zealand Dairy Ltd, Oceania Dairy Ltd and Chinese New Settlers Trust.

Thomson said the quality and number of entries was up this year, with a greater range of industries represented than in previous years.