18 Dec 2017

Westland Milk Products soon to announce new products

12:23 pm on 18 December 2017

New Zealand's second largest milk company is planning to step away from selling dairy products alone and expand into alternative protein and blended products.

Westland Milk Products has revised its payout to between $5 and $5.40 per kg.

Westland Milk Products is looking to alternative proteins and blended products. Photo: PHOTO NZ

Westland Milk Products has bounced back from a $14.5m loss in 2015/16 to break even this year.

Chief executive Toni Brendish says the co-operative worked hard over the past year to become more efficient.

The company's purpose was now "nourishment made beautifully for generations" which she said gave it freedom to go beyond traditional dairy products.

Westland Milk Products chief executive Toni Brendish

Chief executive Toni Brendish Photo: Supplied

"Really focusing on that purpose is going to allow us to expand into a number of different new products that we think are in demand across, not only Asia, but European and US countries as well.

"They might be a blend of dairy plus other things."

Among the products the company was investigating were alternative proteins.

"We're working on some plans and they are confidential at the moment but we're hoping to be able to announce those very soon."

Westland is in a joint venture with Chinese company AusNutria. Ms Brendish said the co-operative was looking for other strategic partnerships.

China offered growth opportunities and it had invested in the country by setting up an office in Shanghai but it was also looking elsewhere, she said.

"From our perspective we also see terrific growth opportunities in other parts of south east Asia, north Asia.

"We see good growth across even the US and parts of Africa as well."