Vinamilk gets investment licence in New Zealand

Vietnam Dairy Products Joint Stock Co (Vinamilk – coded VNM) released that the Ministry of Planning and Investment has recently issued the licence for the company to make investment overseas. In details, the company planned to purchase shares in New Zealand-based Miraka Co Limited.

At first, Vinamilk will purchase 19.3 percent of stake in Miraka Co, then consider to raise its investment capital.

At present, Miraka Co is investing in high-quality dairy processing plant in the northern island of New Zealand. The plant will collect fresh milk from farmers in Taupo and produce high-quality dairy products to offer in international markets. The plant has designed capacity of 32,000 tonnes of milk powder.

The total investment capital for this project was posted at NZ$121 million, equal to 1.623 trillion dong. The plant was expected to be put into operation in August 2011, marking the first foreign investment project of Vinamilk.

At present, Vinamilk has gained average export revenue of $80 million per year. The company mainly exports its products to Middle East, Cambodia, Philippines and Australia.

Tags: Miraka, Vinamilk

Posted by VBN on Sep 13 2010. Filed under Food & Beverage. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry