NEW ZEALAND - A Chinese company is to buy a New Zealand abattoir based in Taranaki processing local meat for the local market.
Gold International Holding Ltd, which is owned by the Chinese government, received Overseas Investment Office approval in July to buy Stratford's Taranaki Abattoir for NZ$2 million according to a report in the local Taranaki Daily News.
A year ago the company invested NZ$1 million upgrading the plant so it could export meat to China.
The sale is expected to be completed when it received the official go-ahead from the Ministry of Agriculture and Forestry to start exporting to China.
The current owner Terry Lester told the Taranaki Daily News that the Chinese company had taken over the running of the abattoir floor in June and he has been contracted to continue in an advisory capacity.
The processing plant is hoping to receive approval to export to China by the middle of the month.
TheMeatSite News Desk