Fonterra has announced plans for a new yoghurt plant to meet growing local demand in Brazil.
The plans were announced by Dairy Partners America (DPA), a five-year-old joint venture between Fonterra and Nestle.
The new plant, to be built at Nestle's Feria de Santa site in the State of Bahia, will allow DPA to develop products tailored to the tastes of consumers in the northeast Brazilian region, which has a population of around 50 million and represents approximately 20 percent ($NZ505.45 million a year) of the total Brazilian chilled dairy market.
DPA chief executive Juan Carlos Pestana said the investment would help tap the growing appetite for fresh and cultured products and enhance DPA's leading position in Brazil.
Fonterra and Nestle are 50/50 partners in the joint venture, which operates 13 manufacturing sites across Brazil, Argentina, Venezuela, Colombia and Ecuador.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Big swings in Orion Health's share price ahead of key earnings announcement today
- TechDay and NetGuide publisher settles with liquidators, creditors left $2m short
- PM defends MPI as criticism over myrtle rust spread mounts
- Businesses sign up for new way of reporting on diversity
- NBR Rich List family unable to settle dispute over $264k
Most listened to
- Lawyer Adina Thorn discusses her decision to launch a class action against Carter Holt Harvey over its Shadowclad product
- Westpac senior economist Satish Ranchhod says student inflows continue to be a big driver of growth
- Spark chief executive Simon Moutter says getting in tune with your market is a major benefit from diversity
- Nevil Gibson reveals rising life expectancy rates could increase pension costs even higher
- NBR Radio: best of the week ended May 26, with Grant Walker