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

 

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Oil: 2017 Block Offer Petroleum Tender Launched

New Zealand is well-placed to take advantage of the economic benefits of oil and gas exploration, Energy and Resources Minister Judith Collins announced today at the launch of the 2017 Block Offer petroleum tender. More>>

ALSO:

OECD And Zero Carbon Reports: Environmental Pressures Rising In New Zealand

New Zealanders enjoy a high environmental quality of life and access to pristine wilderness. However, New Zealand’s growth model, based largely on exploiting natural resources, is starting to show its environmental limits with increasing greenhouse gas emissions and water pollution ... More>>

ALSO:

Statistics: Record Net Annual Migration Levels Continue

In the February 2017 year, 71,300 more migrants arrived in New Zealand than left, Stats NZ said today. This equalled the previous annual record set in January 2017. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news