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Bellamy's Australia says its China export licence suspended
July 6, 2017 / 11:18 PM / 5 months ago

Bellamy's Australia says its China export licence suspended

SYDNEY, July 7 (Reuters) - Infant formula maker Bellamy’s Australia Ltd said on Friday that Chinese authorities have suspended the export licence of its newly-acquired subsidiary.

China is Bellamy’s top export market, and the company’s stock has been roiled by problems with sales and regulations there. It announced the acquisition of Camperdown Powder Pty Ltd last month, and its export licence, as a key plank in a turnaround plan.

On Friday Bellamy’s said it requested a trading halt “to allow the company to determine the reasons and impact of the Camperdown’s suspension of its CNCA license by the China authorities overnight,” referring to China’s Certification and Accreditation Administration. (Reporting by Tom Westbrook; Editing by Richard Pullin)

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