- Keytone Dairy (KTD) signs a deal with Chinese brand distributor, Theland, for its whole and skim milk powders
- The contract includes opening orders of $1.8 million with delivery expected through the December 2021 quarter
- Theland is said to be one of the largest importers of powdered milk products into China and KTD says this deal continues its strong growth trajectory
- The partnership is also in advanced discussions about additional product lines to be manufactured by KTD, providing potential sales growth
- Shares are trading 4.35 per cent higher at 12 cents
Keytone Dairy (KTD) has signed a deal with Chinese brand distributor, Theland, for its whole and skim milk powders.
KTD manufactures and exports formulated dairy and nutritional products, and health and wellness brands with the aim of providing diversified products to consumers globally and eliminating worry for time poor and health conscious consumers.
This most recent client, Theland, is touted as one of the largest importers of powdered and UHT milk products into China, with sales capabilities in more than 25 Chinese provinces.
The contract includes opening orders of approximately $1.8 million to be delivered through the December 2021 quarter.
Additionally, the partnership is said to be in advanced discussions regarding additional product lines to be manufactured by Keytone at its New Zealand facilities.
KTD expects Theland to place regular and repeat orders, and sees potential for further sales growth by expanding its number of products.
Moreover, Keytone said the deal further diversifies its growing client base and continues its strong growth trajectory.
Commenting on the deal, company CEO, Danny Rotman said this new contract, including its opening order and level of engagement with Theland is a testament to the quality and commitment of the Keytone team.
Additionally, he said the near-term pipeline in New Zealand is “incredibly strong” and the company predicts the second half of financial year 22 to eclipse prior growth aspirations set for the year.
Shares were trading 4.35 per cent higher at 12 cents at 11:23 am AEST.