BRAZIL: Brasil Foods, Carbery form whey JV
Carbery will use it technology to process whey generated at Brasil Food's cheese manufacturing facilities
The joint venture, in which Brasil Foods will invest US$50m, emphasised its objective to increase its leadership in the cheese sector, it said yesterday (5 November).
Carbery will use its technology to process whey generated at Brasil Foods' cheese manufacturing facilities.
A manufacturing plant to produce added-value nutritional ingredients will be opened as part of the venture agreement. Construction is expected to start in 2014. The location was not disclosed.
SAO PAULO, Nov. 5, 2012 /PRNewswire/ -- BRF - Brasil Foods S.A. ("BRF" - BM&FBovespa: BRFS3; NYSE: BRFS) and Group Carbery announce to the market and their shareholders the formation of a 50/50 whey processing joint venture. The $50 million investment will use Carbery's innovative technology to process whey generated at BRF's cheese manufacturing facilities. The venture is aligned with BRF's strategic objective to be a leading player in the Brazilian cheese market. The joint venture will house a state of the art manufacturing plant to produce added value nutritional ingredients sourced from whey, a byproduct from cheese manufacturing. These ingredients are utilized by leading consumer brands in baby food and sports nutrition, among others uses. The construction of the processing facility is planned to commence immediately and it will be commissioned in 2014. About Carbery: The Company employs over 500 people globally with 200 in Ireland and is a leading player in the manufacture of whey based ingredients internationally, brought about by significant investment in research and development. The outputs of this long term R&D programme has led to the development of a range of advanced dairy based nutritional ingredients which are supplied to many of the world's leading international food and drink companies. Many leading consumer brands in baby food, sports and performance nutrition, together with foods such as yoghurts and bakery products, contain Carbery proteins which are recognized globally for their high quality and efficacy.
Leopoldo Viriato Saboya BRF - Brasil Foods S.A. Chief Financial, Administrative and Investor Relations Officer
Original source: Brasil Foods
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