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- Release Date: 04/03/13 10:34
- Summary: GENERAL: FSF: FONTERRA AND A-WARE FOOD GROUP CONFIRM EUROPEAN PARTNERSHIP
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FSF
04/03/2013 08:34
GENERAL
REL: 0834 HRS Fonterra Shareholders' Fund (NS)
GENERAL: FSF: FONTERRA AND A-WARE FOOD GROUP CONFIRM EUROPEAN PARTNERSHIP
New Zealand-based Fonterra and Netherlands-based A-ware Food Group have given
the green light to develop a new cheese plant and dairy ingredients plant in
Heerenveen in the north of the Netherlands.
Fonterra CEO Theo Spierings and A-ware Food Group CEO Jan Anker have today
confirmed the partnership would proceed and signed a final agreement.
Under the agreement a greenfields site will be developed where A-ware will
operate a cheese plant and Fonterra will operate a dairy ingredients plant
alongside it. Cheese will be produced for A-ware's customers in Europe and
the whey and lactose produced will be processed into premium nutrition dairy
ingredients for Fonterra's global customer base.
Construction of both plants is scheduled to be completed in late 2014.
The investment fitted well with the strategic priorities of both companies,
said Mr Spierings.
"Fonterra has substantial intellectual property in the manufacture of
functional whey protein ingredients and has been looking for some time for a
source of high quality whey to enable it to commercialise these innovations
for customers around the world."
Mr Anker said the partnership would build on A-ware's reputation as a
significant provider of premium cheese in Europe with a strong history and
network.
"A-ware is well placed to integrate the new cheese plant into its supply
chain so it can expand its service offering with increased flexibility for a
growing customer base in Europe."
End CA:00233703 For:FSF Type:GENERAL Time:2013-03-04 08:34:17
