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Current Position:Home » News » Agri & Animal Products » Dairy Products » Topic

Mitsubishi to buy 24% stake in Tasmanian Dairy Products

Zoom in font  Zoom out font Published: 2012-06-21  Origin: FBR
Core Tip: Japanese trading firm Mitsubishi has agreed to acquire 24% share in Tasmanian Dairy Products, a manufacturer of dairy food ingredients in the Australian state of Tasmania.
Tasmanian Dairy Products was established by Australia's leading dairy export manufacturer Murray Goulburn Co-operative and other local Tasmanian Investors.

According to the company, this deal is a part of Mitsubishi's strategy to establish a stable supply of dairy products to Asian markets including Japan.

Tasmanian Dairy will be investing A$75m ($76.12m) to set up a new manufacturing plant in Tasmania, which will have a processing capacity of around 250,000 tons of raw milk. The plant is expected to be operational in September 2012.

Mitsubishi noted that through the venture with Tasmanian Dairy Products, it plans to build a strong dairy product supply chain and further expand its dairy manufacturing business.

Mitsubishi was involved in a long-term partnership with Murray Goulburn - Tasmanian Dairy's major shareholder, through trading in dairy products and manufacturing joint ventures.

 
 
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