China Jin Hui Mining Corporation Limited
China Jin Hui Mining Corporation Limited is a Hong Kong-based investment holding company. The principal activities of the Company are provision of engineering systems contracting, supporting services and sale of related consumables and spare parts and New Zealand milk production.
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Jin Hui to move into milk imports with New Zealand dairy acquisition
Ca Jin Hui Mining Corporation today announced it will buy a 20 percent stake in New Zealand milk producer UBNZ for NZ$100m (HK$480m). The company has recently been seeking opportunities to diversify and has decided to move into the imported UHT milk industry in Hong Kong and China.
This is already a big industry in which products from New Zealand can command a price premium, but especially so in the wake of the melamime milk scandal that tainted the reputation of China's dairy industry last year.
In the company's view, the scarcity of of Fonterra (New Zealand's exporting milk co-operative) approved dairy farm land in New Zealand means the value of UBNZ' assets are set to rise as well.
The global Fonterra Wholesale Milk Powder (WMP) auction price has recovered strongly, jumping 26 percent in July to US$2,301 per metric tonne.
