A2 Corp to set up Australian milk processing facility
A2 Corporation is to set up a milk processing facility in Australia, at an estimated capital cost of $A7.5 million ($10.1 million).
The project, which included a purpose-built factory in south western Sydney, would support the growth of wholly-owned subsidiary A2 Dairy Products Australia.
Planning had been under way for more than a year, A2 said today.
Funding would be from a combination of equity and an asset finance facility provided by the company's bankers.
New equity capital of $3.9 million was to be raised through a share placement to two existing shareholders, AMP Capital Investors (New Zealand) and Freedom Foods Group.