Former PGG Wrightson chief executive Barry Brook has been appointed chairman of Canterbury dairy company Synlait Ltd.
Brook succeeds former Dairy Board executive Graeme Milne who stepped down from the Synlait job to chair the Chinese-owned processing company Synlait Milk Ltd, a joint venture 51 per cent owned by Shanghai-based
dairy giant Bright Dairy and Food Ltd.
"Barry brings extensive experience in agribusiness both in New Zealand and internationally, particularly in building and developing farming businesses," said Synlait chief executive John Penno.
Brook had helped establish primary sector business investments in South America, mainly in Uruguay but also in Argentina and Brazil, was qualified in agricultural commerce and economics and since leaving PGG Wrightson had become an independent agribusiness consultant.
Brook led the mergers of Wrightson with Williams and Kettle and Pyne Gould Guinness in the period 2004 to 2006 to form PGG Wrightson and was the group's chief executive until 2008.
Improved pasture production and cost management was driving major gains in productivity on Synlait farms, which said that milk production in the 2009 season lifted 14 percent over the previous season while costs fell, creating a significant increase in operating earnings.
Production in the current season was up a further 10 per cent.
Synlait Ltd now wanted to drive further productivity improvement from farming business and to work with Bright to maximise the value from its new Synlait Milk partnership, Penno said.
Construction of a second drier and packaging plant to double processing capacity at the Dunsandel site is due to be commissioned in September 2011, and to boost the company's ability to produce high value milkpowders, including infant formula, for the Chinese market.
"Graeme's expertise in milk processing and marketing will be of great value for the further development of this business," Penno said.
Synlait Limited is a public company and its shares are traded on a platform managed by Polson Higgs.
- NZPA
