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Council Welcomes Decision on Sale of VDL

23 February 2016

Circular Head Mayor Daryl Quilliam has welcomed news that Moon Lake Investments purchase of the Van Diemen’s Land (VDL) Company has been approved by the Foreign Investment Review Board.

As part of the approval, Moon Lake Investments, owned by Chinese businessman Lu Xianfeng, has given guarantees of continuing employment and to maintain farm management structures currently in place.

“This is a very welcome decision that will see additional investment undertaken on the VDL farms, which will be a boost for our local economy,” Mayor Quilliam said.

“Job numbers are expected to double as a result of Moon Lake’s investment, which is also very welcome news.”

Moon Lake Investment is looking to acquire all the Tasmanian dairy assets held by Tasmanian Land Company Ltd and its related entities, including the Van Diemen’s Land Company.

“VDL is a major player in the Tasmanian dairy industry and I am confident that with this investment, it will only expand its role,” Mayor Quilliam said.

“I look forward to seeing the growth and the subsequent jobs it creates.”