Milk Formula Company Invests in Irish Processor08 March 2013
CHINA – One of the leading Chinese infant milk formula (IMF) producers has invested in the European market after agreeing terms with Irish milk processor Kerry.
Hangzou based company Beingmate has promised a €20 million investment into production and sales lines and a research and development subsidiary.
Coming in the wake of the melamine crisis the move is expected to mark something of a recovery for Beingmate who wish to benefit from ambitious Irish post-quota production.
Chinese milk is processed by Beingmate who also import milk from the Netherlands and Finland.
DairyCo expects Kerry to expand due to growing export opportunities for value added products.
The announcement comes as milk formula industry confidence is growing. In January Beingmate was accredited as producing ‘consistent quality products’ after a series of monthly tests satisfied the China Dairy Industry Association (CDIA) inspections.
Beingmate has been described as having a long-term relationship with Kerry and the new investment is expected be mutually beneficial.
TheCattleSite News Desk