New Zealand tannery weighs up China’s Silver Fern Farms buyout
16/09/2015
The board of the country’s largest processor of lamb, beef, venison has unanimously recommended the deal in which Shanghai Maling would invest $261 million in cash to own half of Silver Fern Farms' business.
The government has been debating the issue, with opposition suggesting it could “herald a whole new era for the meat industry”.
David Cassidy, general manager of New Zealand Light Leathers, which made around 60% of its staff redundant this summer due to slowing demand, told local press the deal could put Light Leathers' deer leather processing contract at risk, but he would have to "wait and see”.
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