China’s Mengniu Dairy Co is to establish a RMB400m (US$48.3m) ice cream and milk production facility in Jiaozuo in Henan province comprising 12 ice cream and ten milk production lines to be operational by the end of the year.
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Mengniu will use locally-produced fresh milk, with daily milk supply expected at 150 tons in 2004, increasing to 450 tons by 2005.
Morgan Stanley, CGU-CDC China Capital Partners and a Hong Kong-based venture capital company have invested a total of US$26m in Mengniu and hold a combined stake of 33%.
