Fonterra to build $100m plant

Fonterra has announced plans to build a $100 million ultra heat treatment plant in the Waikato.

The plant aims to double the dairy giant's milk powder production.

Strong demand in South East Asia has seen whole and skim milk powder prices leap on the world dairy market, with China importing 60 percent of its milk powder from New Zealand.

Fonterra chief executive Theo Spierings says the new plant means farmers in the upper North Island will be encouraged to take up winter supply contracts.

He says the new plant will require continuous milk supply to meet demand.

QUOTES

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.