Marcus Derwin, the new managing director at Australia’s largest privately-owned milk processor United Dairy Power, has said the company will continue to trade, despite its parent entering receivership.
Rabobank forced UDP’s parent company, Hong Kong-owned Five Star United Food, into receivership on 10 November. “It is very much business as usual at UDP, with the company making payments to its suppliers in the ordinary course,” Derwin told just-food.
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Rabobank appointed Derwin as chief of Five Star United Food, which also owns Australia’s UD Power, UP Transport and UD Products. He claimed the future is bright for UDP with “a good business, a good supply chain and a strong brand”, he said.
UDP collects up to 4% of Australia’s milk, its staff of more than 150 processing about 200m litres annually. Derwin said “taking stock and stabilising the business were now his priorities”.
