Vinamilk’s New Zealand plant begins operation

August 25, 2011 | 14:48

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The country’s largest dairy company, Vinamilk, said yesterday that a milk powder plant in New Zealand in which it has a stake has become operational.

Vietnam Dairy Products Joint Stock Co, as it is formally known, has a 19.3 per cent stake in the NZ$90 million ($74.43 million) Miraka Milk Powder Plant owned by the New Zealand-based Miraka Limited.

The plant, which is located in North Island and is Vinamilk’s first overseas investment, would buy fresh milk from farmers in the Taupo region and produce dairy products for exports, Vinamilk said.

It has a capacity of 32,000 tonnes of milk powder and 210 million liters of milk a year.

The Miraka project is part of Vinamilk’s long-term strategy to achieve its target of becoming one of the world’s 50 largest dairy producers by 2017 with annual revenues of $3 billion.

The company reported sales of $497.75 million in the first half and targets $1 billion for the whole year.

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