Tuesday, 10 November 2015 11:59

Green light for JV

Written by Rural News Group

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Fonterra's Chinese partner Beingmate last month agreed to set up a joint venture to buy the co-op's Darnum, Victoria, plant.

In return Fonterra will use Beingmate's sales and distribution network in China to sell its Anmum branded formula.

Fonterra chief executive Theo Spierings said the global partnership with Beingmate holds growth potential for both companies.

"The partnership will create a fully integrated global supply chain from the farmgate direct to China's consumers, using Fonterra's milk pools and manufacturing sites in New Zealand, Australia, and Europe.

"By working with Beingmate we are creating additional demand for ingredients and high-value paediatric and maternal nutrition products."

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