Australian dairy cooperative Murray Goulburn’s Edith Creek site in Tasmania has received an eleventh hour reprieve.
It has been sold to Dutch Mill (Australia), a local subsidiary of Dutch Mill group of Thailand, a day before it was due to close. And while the site will be closed as planned, it is hoped that many of the workers there will be re-employed when the site is back up and running.
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Dutch Mill is a privately run processor and marketer of milk and milk products throughout Asia.
The transaction – for which the financial details are undisclosed – includes the Edith Creek land and all assets associated with the site.
MG’s chief executive officer Ari Mervis said: “The decision to close this processing site was difficult to make, however a necessary step on the journey to ensure the competitiveness of MG.
“We congratulate Dutch Mill on their acquisition of Edith Creek, and wish them well for the future.”
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By GlobalDataIt is understood the factory will be operating again by the second quarter of 2018.
Murray Goulburn was acquired by Canadian dairy group Saputo for US$1bn in late October.
