Sector News

Glanbia in talks to build U.S. production facility

January 27, 2017
Food & Drink

Glanbia PLC said Friday that it in advanced talks to build and operate a new cheese and whey production facility in Michigan, U.S.

The Irish nutrition and ingredients group said it is in advanced discussions with Dairy Farmers of America Inc., Michigan Milk Producers Association and Foremost Farms U.S.A to create a stand-alone joint venture for the new production facility.

Under the proposed venture, the three dairy cooperatives would supply all milk required by the plant while Glanbia will have full responsibility for all aspects of the business. The joint venture will be 50% owned by Glanbia and the balance will be owned by the three dairy cooperatives.

Commissioning of the new facility is expected to take place in the second half of 2019. The facility is estimated to process 3.6 million liters of milk per day.

By Tapan Panchal

Source: MarketWatch

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