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
- Light rail the winner in latest Auckland Transport turnaround
- Brexit aftermath: disdain, the elites, and the warning for conservative parties everywhere
- Will people voluntarily stop owning cars within 20 or 30 years?
- Uber launches free Pandora personalised music for its Kiwi, Australian and US drivers
- Auckland council puts debt issuing plans on ice over Brexit concerns
Most listened to
- BNZ's Jason Wong says the movements in the currency market last week were some of the biggest in history
- CBL's Peter Harris on uncertain times in the UK insurance industry
- Govt performing an awkward political U-turn on foreign trusts. Rob Hosking with John Shewan and John Key
- Trade Minister Todd McClay says plans for an FTA with the EU will not be hindered by the Brexit
- Oxford University academic Malcolm McCulloch predicts the imminent death of the internal combustion engine