CANADA/US: Dairy co-op Agropur plans capex spend in US
Canadian dairy co-op Agropur has announced what it says it is largest-ever capex programme in the US.
Agropur plans to "significantly increase" production capacity at a plant in Wisconsin. The Luxemburg facility will receive over C$100m to improve its whey processing and how it treats waste water.
"We are committed to and believe in the future of the US dairy industry and we are here for the long haul," Agropur CEO Robert Coallier said.
The company runs seven plants in the US, four of which are in the US. Doug Simon, president of Agropur's US cheese business, added: "We are certainly very excited about this investment in the future of the Wisconsin dairy industry, as it provides employment opportunities for our employees and a stable home for milk produced in the area."
In 2011, Agropur hailed its "best performance in its history" as sales jumped in part on the back of its US business.
Sales increased to C$3.6bn in the 12 months to 29 October 2011, up from C$3.34bn in the previous year. Revenues were boosted by the group's acquisition of US dairy ingredients maker Main Street Ingredients in December 2010 and an increase in dairy prices in the country.
- Campbell Soup Co.'s M&A plans should avoid fresh
- Mead Johnson wrestles "irrational" Chinese market
- On the money: Unilever aims to get food growing
- 10 things to learn: Campbell's plans for growth
- Briefing: How is gluten-free faring in Europe?
- Hain Celestial buys plant-based food firm Mona
- Post, TreeHouse "in talks over ConAgra own-label"
- Lactalis surpasses Danone on dairy league table
- Nestle replaces India MD after Maggi scandal
- Mondelez Mexico investment to hit 600 US jobs