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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Cameron Officer talks about the NBR Car of the Year 2015
- “A very ballsy thing to do” – Rodney Hide and Kelvin Davis discuss Serco’s response to Correction’s Mt Eden Prison report
- “The response from shareholders has been overwhelming” — A2 Corporation chief executive Geoff Babidge
- Greg Gent says a board of 13 people is "prehistoric"
- Arvida CEO Bill McDonald on his company's half-year net profit
- Lance Wiggs on the future of food exports
- Auckland Councillor Chris Darby on the Council's alternative funding report
- Nevil Gibson discusses his latest Editor's Insight on oil prices
- Campbell Gibson, Nick Grant and Chelsea Armitage chat about the inner workings of New Zealand media
- Paul Brislen discusses the 'snake oil' sales tactics of SalesConcepts
- Fonterra chief executive Theo Spierings reveals his ambitious China plan
- UDC Finance chief executive Wayne Percival talks about the company's profit