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- Release Date: 27/02/13 10:59
- Summary: GENERAL: FSF: FONTERRA TO DEVELOP UHT PLANT AT WAITOA
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FSF
27/02/2013 08:59
GENERAL
REL: 0859 HRS Fonterra Shareholders' Fund (NS)
GENERAL: FSF: FONTERRA TO DEVELOP UHT PLANT AT WAITOA
Fonterra today announced it will be investing more than $100 million in a new
UHT milk processing plant at its Waitoa site in the Waikato.
Fonterra Chief Executive Officer Theo Spierings said the new plant would
enable the co-operative to meet growing demand for UHT products in Asia.
"The new plant will enable us to increase our UHT production by 100 per cent
over the next few years. The plant will include five new UHT lines that will
produce a range of products including UHT white milk and UHT cream for the
foodservice sector.
"Products from the new plant will be bound for Asia markets and that will
allow us to concentrate all our domestic UHT production - including Fonterra
Milk for Schools - at Takanini in Auckland."
Mr Spierings said that together with the construction opportunities and the
creation of an additional 50 jobs, the development would provide new
opportunities for Fonterra farmers in the North Island.
"Milk supply in New Zealand is seasonal because it follows the grass growth
curve. However UHT production requires year round milk supply so we will be
talking to our farmers about the opportunity for more of them to take up
winter milk contracts. This will enable them to take advantage of the milk
price premium that these contracts include.
"A recent survey of our farmers indicated that a good proportion of them in
the Upper North Island would be keen to take up winter milk contracts," Mr
Spierings said.
End CA:00233501 For:FSF Type:GENERAL Time:2013-02-27 08:59:44
