Fonterra in final stages of acquiring China dairy farms

Fonterra said it is in the final stages of due diligence on two dairy farms in China. 

The world's largest exporter of dairy products said is has signed an agreement with the government of

Yutian County, which is near the cooperative's existing Tangshan Fonterra Farm.

"This agreement is a positive step in the negotiation process with Yutian County," said Philip Turner, Fonterra's managing director for China.

"We've always said that we believe the bulk of China's growing demand for dairy will be met by locally produced milk.

"By investing in two further farms, we are building on our commitment to build a safe, secure and sustainable milk supply for our customers in China," he said.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MCY - Employee Share Scheme - Financial Assistance Notice
PGW - PGG Wrightson FY27 Market Guidance
TEM - Transaction in Own Shares
October 13th Morning Report
October 12th Morning Report
TEM - Transaction in Own Shares
October 9th Morning Report
VGL - NZX Tech Investor Day Presentation
October 8th Morning Report
IFT - CDC Independent Valuation