
French dairy giant Danone on Thursday said it will buy milk powderfactories in New Zealand to make up for supplies lost when it ended its supplycontract with Fonterra last year.Its local subsidiary Nutricia will buy Gardians drying plant and Sutton Group'sblending and packing plant in Auckland, allowing it to maintain and possiblyincrease its exports to China.Danone's net profit slumped 15 percent in 2013 after a food safety warning by keysupplier Fonterra last year forced the group to launch a massive recall in Asia."This transaction will provide Nutricia with a large milk drying capacity, along witha long-term fresh milk supply access," the company said in a statement."It will also add an infant formula blending and packing facility to Nutricia'sexisting operations platform."The purchase its subject to regulatory approval and is expected to complete in thenext few months, Danone added.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor