fbpx
Print this page
Wednesday, 10 February 2016 19:51

Beingmate venture set to deliver

Written by 
Fonterra's joint venture with Chinese infant food company Beingmate is a step closer to fruition. Fonterra's joint venture with Chinese infant food company Beingmate is a step closer to fruition.

Fonterra's joint venture with Chinese infant food company Beingmate is a step closer to fruition.

The joint venture has been formalised and subject to final regulatory approvals the first product destined for Beingmate's Chinese customers is expected to roll off the Darnum line in Victoria, Australia in the second half of 2016.

The joint venture sees Beingmate take a 51% stake in Australia's premier paediatric powder plant at Darnum, Fonterra retaining a 49% stake and controlling operations at the plant.

The Darnum joint venture is a key component of Fonterra's partnership with Beingmate to create an integrated global supply chain from the farmgate direct to China consumers, using Fonterra's milk pools and manufacturing sites in New Zealand, Australia and Europe.

Fonterra last year also paid out $755 million for a 18.8% stake in Shenzen-listed Beingmate Baby & Child Food.

Last August, Fonterra and Beingmate said they intended to form a global partnership to help meet China's growing demand for infant formula.

More like this

Popular Reads

Featured

Gongs for best field days site

Gongs for best field days site

Among the regular exhibitors at last month’s South Island Agricultural Field Days, the one that arguably takes the most intensive preparation every time is the PGG Wrightson Seeds site.

Feed help supplements Canterbury farmers meet protein goals

Feed help supplements Canterbury farmers meet protein goals

Two high producing Canterbury dairy farmers are moving to blended stockfeed supplements fed in-shed for a number of reasons, not the least of which is to boost protein levels, which they can’t achieve through pasture under the region’s nitrogen limit of 190kg/ha.

National

Lame stories from a country vet

Lame stories from a country vet

Everyone from experienced veterinarians and young professionals to the Wormwise programme and outstanding clinics have been recognised in this year’s…

Machinery & Products

Amazone extends hoe range

With many European manufacturers releasing mechanical weeding systems to counter the backlash around the use and possible banning of agrochemicals,…

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…