Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
by Staff Writers
Paris (AFP) May 01, 2014
French dairy giant Danone on Thursday said it will buy milk powder factories in New Zealand to make up for supplies lost when it ended its supply contract with Fonterra last year.
Its local subsidiary Nutricia will buy Gardians drying plant and Sutton Group's blending and packing plant in Auckland, allowing it to maintain and possibly increase its exports to China.
Danone's net profit slumped 15 percent in 2013 after a food safety warning by key supplier Fonterra last year forced the group to launch a massive recall in Asia.
"This transaction will provide Nutricia with a large milk drying capacity, along with a long-term fresh milk supply access," the company said in a statement.
"It will also add an infant formula blending and packing facility to Nutricia's existing operations platform."
The purchase its subject to regulatory approval and is expected to complete in the next few months, Danone added.
Farming Today - Suppliers and Technology
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.|