-Arla Foods to set up whey processing JV with German DMK.
NORDIC BUSINESS REPORT-March 18, 2011--Arla Foods to set up whey processing JV with German DMK(C)2011 M2 COMMUNICATIONS http://www.m2.com
18 Mach 2011 - Swedish-Danish dairy co-operative Arla Foods said today it has agreed to set up a 50/50 whey-processing joint venture with German DMK Deutsches Milchkontor to service the global food industry.
The two partners will invest a total of EUR44m in the joint operations. As much as EUR35m will be spent on the construction of a whey-processing plant at DMK's cheese site in the municipality of Nordhackstedt, northern Germany, while EUR9m will be invested in Arla's Danmark Protein plant in Norre Vium, Denmark.
The deal will help Arla achieve its goal of doubling sales at its whey business by 2015, Arla Foods chief executive Peder Tuborgh said.
Construction of the plant is due to begin in October 2011 and the facility is expected to start operations by the end of 2012.
The joint venture, which is subject to approval by competition regulators, will be named ArNoCo GmbH & Co KG.
DMK has been created through a merger of German milk-processing companies Nordmilch GmbH and Humana GmbH.
(EUR1.0 = USD1.4)
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|Publication:||Nordic Business Report|
|Date:||Mar 18, 2011|
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