NETHERLANDS: Fonterra, A-Ware finalise JV
By Katy Askew | 4 March 2013
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Fonterra, A-ware finalise JV agreement |
New Zealand dairy group Fonterra and Netherlands-based A-ware Food Group have finalised a deal to develop a cheese and ingredients plant.
The joint venture agreement was originally announced in May last year. The companies said in an announcement today (4 March) they have now received the green light to proceed and develop the greenfield site. The facility will be located in Heerenveen, in the north of the Netherlands. Construction is scheduled to be completed in late 2014.
A-Ware will operate the cheese facility, manufacturing products for its local customer base. Fonterra will operate the dairy ingredients business along side it, producing ingredients for its international customers.
FONTERRA AND A-WARE FOOD GROUP CONFIRM EUROPEAN PARTNERSHIP
04 MARCH 20132 MIN READSHARE THIS PAGE:
New Zealand-based Fonterra and Netherlands-based A-ware Food Group have given the green light to develop a new cheese plant and dairy ingredients plant in Heerenveen in the north of the Netherlands.
New Zealand-based Fonterra and Netherlands-based A-ware Food Group have given the green light to develop a new cheese plant and dairy ingredients plant in Heerenveen in the north of the Netherlands.
Fonterra CEO Theo Spierings and A-ware Food Group CEO Jan Anker have today confirmed the partnership would proceed and signed a final agreement.
Under the agreement a greenfields site will be developed where A-ware will operate a cheese plant and Fonterra will operate a dairy ingredients plant alongside it. Cheese will be produced for A-ware's customers in Europe and the whey and lactose produced will be processed into premium nutrition dairy ingredients for Fonterra's global customer base.
Construction of both plants is scheduled to be completed in late 2014.
The investment fitted well with the strategic priorities of both companies, said Mr Spierings.
"Fonterra has substantial intellectual property in the manufacture of functional whey protein ingredients and has been looking for some time for a source of high quality whey to enable it to commercialise these innovations for customers around the world," Fonterra CEO Theo Spierings.
Mr Anker said the partnership would build on A-ware's reputation as a significant provider of premium cheese in Europe with a strong history and network.
"A-ware is well placed to integrate the new cheese plant into its supply chain so it can expand its service offering with increased flexibility for a growing customer base in Europe."
Original source: Fonterra
Sectors: Commodities & ingredients, Dairy
Companies: Fonterra
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