FSF
04/02/2016 08:31
JOINTV
PRICE SENSITIVE
REL: 0831 HRS Fonterra Shareholders' Fund (NS)
JOINTV: FSF: Fonterra and Beingmate Australian Joint Venture Formalised
4 FEBRUARY 2016
Fonterra Co-operative Group Limited and China's leading infant food
manufacturer Beingmate Baby and Child Food Company Limited have formalised
their joint venture to purchase Fonterra's Darnum plant in Australia.
The joint venture sees Beingmate take a 51 per cent stake in Australia's
premier paediatric powder plant at Darnum, with Fonterra retaining a 49 per
cent stake, and control of operations at the plant.
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.
The Darnum joint venture is a key component of Fonterra's partnership with
Beingmate to create a fully integrated global supply chain from the farm gate
direct to China consumers, using Fonterra's milk pools and manufacturing
sites in New Zealand, Australia and Europe.
For further information contact:
Simon Till
Director Capital Markets
Phone: +64 21 777 807
End CA:00277210 For:FSF Type:JOINTV Time:2016-02-04 08:31:41
