Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Goodman Fielder plans $27M upgrade of Chch milk plant

Goodman Fielder plans $27M upgrade of Christchurch milk factory to meet Asian demand

By Tina Morrison

June 12 (BusinessDesk) - Goodman Fielder, the Australian food ingredients maker, will spend $27 million to expand its Christchurch ultra heat treated milk plant, giving it additional capacity to meet increased demand for its Meadow Fresh brand in Asia.

Work to extend the existing UHT building and install a new pasteurising, sterilising and palletising line as well as a new 250ml high-speed filler is expected to be completed by October 2015 and will boost production at the site by 50 percent, enabling it to process an extra 32 million litres a year, Sydney-based Goodman Fielder said in a statement.

Increased demand for milk powder from China, driven by an expanding and wealthier population that is embracing western foods, has pushed dairy cooperative payouts to farmers to a record high and underpinned the conversion of traditional pastoral farms to dairying. Higher payouts are enticing farmers to increase milk production, and dairy factories are having to step up production capacity to cope with the surge.

"The premium UHT category in Asia Pacific is anticipated to grow by around 50 percent over the next five years," Goodman Fielder chief executive Chris Delaney said. "We are investing now to meet that demand and also plan for future growth."

Construction of the new building and production line will require 40 full-time equivalent roles for the 8-month construction period and the increased production will also require 12 new roles, the company said.

Shares in Goodman Fielder last traded at 74 cents and have gained 2.8 percent so far this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Building Battle: Bill English Blames Council On Housing

The Nation: Finance Minister blames Auckland Council for housing shortage, saying it is responsible for land, housing and infrastructure supply in the city, while government provides rental subsidies... More>>

ALSO:

Megiaglommeration: NZME And Fairfax Apply For Authorisation To Merge

The Commerce Commission has received an application from Wilson and Horton Limited (trading as NZME) and Fairfax NZ Limited seeking authorisation to merge their media operations in New Zealand. More>>

ALSO:

Brewing: Lion To Buy Cult Upper Hutt Brewer Panhead

Lion - Beer, Spirits and Wine (NZ), New Zealand's biggest beer maker, has agreed to buy Panhead Custom Ales from the family of founder Mike Neilson, its second such purchase of a popular craft brewer after the acquisition of Dunedin-based Emerson's Brewing Co in 2012. More>>

ALSO:

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news