Photo: Westland Milk ProductsIt was a done deal - the vote to sell Westland Milk Products to Chinese dairy giant Yili was sealed well before the ballot in Greymouth yesterday. From August 1, the co-operative would no longer belong to New Zealand, let alone Westland. Westland Milk chairman Pete Morrison said in a prepared statement that shareholders had shown strong support for the proposal. "While Westland will cease to be a co-operative, the board believes the proposed transaction represents the best available outcome for shareholders." "I can't get over the fact ... they only spent $583million on a factory which has everything, and a marketing arm."

Source: Otago Daily Times July 04, 2019 16:30 UTC