Thursday 4th February 2016
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Fonterra Cooperative Group's Darnum plant in Australia, which it's rolling into a joint venture with China's Beingmate, is expected to start producing infant formula products for the venture's Chinese customers in the second half of 2016.
The joint venture, 51 percent owned by Beingmate and 49 percent by Fonterra, will distribute Fonterra's Anmum brand products in China. Subject to final regulatory approvals, the first product destined for Beingmate's Chinese customers is expected to roll off the Darnum line in the second half of 2016, Auckland-based Fonterra said in a statement.
For Fonterra, the world's largest dairy exporter, the partnership with Beingmate aims to create a fully integrated global supply chain from the farm gate direct to consumers in China, the world's largest market for infant formula, using Fonterra's milk pools and manufacturing sites in New Zealand, Australia and Europe.
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