Snow Brand Milk Products said it has reached a broad agreement to establish a joint venture in the field of clinical nutrition. The new operation is expected to be up and running by the end of next month.
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Some 60% of the new company#;s capital will be provided by Otsuka, with the other 40% coming out of Snow Brand#;s own coffers. The remit of the new company is not exactly clear, although it is also expected to include work on businesses outside the area of clinical nutrition.
This is not the first time the two companies have worked together; they cooperated to varying degrees throughout the 1990s.
