Tuesday, 10 November 2015 11:59

Green light for JV

Written by 

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."

More like this

$10m Boost for Govt Coffers From Pāmu

State farmer Pāmu (Landcorp) has announced it will pay a $10 million special dividend to the Crown off the back of a strong outlook for the business and a capital repayment of $9.5 million following Fonterra's consumer business sale.

Too Lenient

OPINION: Reckless action by Greenpeace in 2024 forced Fonterra to shut down a drying plant for four hours, costing the co-op about $300,000.

Featured

National

Machinery & Products

» Latest Print Issues Online

Milking It

Too Lenient

OPINION: Reckless action by Greenpeace in 2024 forced Fonterra to shut down a drying plant for four hours, costing the co-op…

Fossil Fuel Crusade

OPINION: The global crusade against fossil fuel is gaining momentum in some regions.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter