German dairy giant DMK has forecast that its 2011 revenues will be over 12% higher than Nordmilch and Humana, the two firms that merged in March to form the company, achieved in 2010 combined.
DMK said it expects its turnover for 2011 to be around EUR4.5bn (US$5.93bn), up from the aggregate sales of Nordmilch and Humana of EUR4bn in 2010.
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Looking to this year, CEO Dr Josef Schwaiger said DMK would continue to build its presence outside the EU. He confirmed DMK would open an office in Shanghai this year, as just-food reported last October.
Dr Schwaiger also outlined what he saw as the benefits of DMK’s to allow certain divisions to run as independent companies. Last month, the co-op announced that its ice cream business would be spun out of the wider business.
“The divisions can develop more effectively as independent companies with a strong group in the background. From the group’s point of view, we expect this approach to deliver promising future value creation opportunities for milk-based raw materials,” Schwaiger said.
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