FRANCE: Laiterie de Montaigu invests to meet Asia demand
Powdered baby milk specialist, Laiterie de Montaigu, is investing EUR30m (US$39m) in increasing production capacity to meet growing demand in Asia.
A new manufacturing tower, capable of producing up to 17,000 tonnes of product annually, is scheduled to enter service at the end of 2014, increasing the French firm's annual capacity to 25,000 tonnes.
In 2011, Laiterie de Montaigu signed a long-term supply contract with Biostime, one of China's leading groups in infant nutrition and care.
Apart from China, the company is eyeing the development of its products in other Asian countries including Viêtnam, Cambodia, Malaysia, Indonesia, India and Pakistan, a company official told just-food.
Laiterie de Montaigu's annual turnover has increased more than threefold since 2008, last year reaching EUR179m, with exports accounting for 45% of the total. It employs 200 staff.
Sectors: Baby food
- Analysis: Is Heinz, Kraft merger "a growth story"?
- McDonald's antibiotics move may be seminal moment
- M&A Watch: Who could be on 3G Capital's radar?
- Viewpoint: Faber-led Danone gets realistic
- Green Giant talk underlines pressure at Gen Mills
- UPDATE: Heinz, Kraft strike merger agreement
- Kraft "in buyout talks" with Heinz owner 3G
- Heinz to cut 71 jobs at UK plant
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus