The ‘stand-alone joint venture’ will be half-owned by Ireland’s Glanbia, with the remaining equity to be split between the three suppliers.
The new cheese and whey production facility will be capable of processing 8 million pounds of milk per day.
As part of the proposed joint venture DFA, MMPA and Foremost Farms would supply all milk required by the plant while Glanbia will have full responsibility for all commercial, technical and operational aspects of the business. If the project proceeds as planned, commissioning of the new facility is expected to take place in the second half of 2019.
Glanbia Nutritionals CEO Brian Phelan said: “Glanbia is delighted to announce this exciting proposed project in the state of Michigan with DFA, Michigan Milk Producers Association and Foremost Farms. Consistent with Glanbia’s growth strategy, this proposed venture will build on our position as the number one producer of American-style cheddar cheese and simultaneously expand our global position as a supplier of advanced technology whey protein to the nutritional sector.
“This proposed joint venture is a strategic move by all the partners to benefit from the growing, large-scale milk pool in the state of Michigan.”
Source: FoodBev
Link: http://www.foodbev.com/news/glanbia-in-discussions-with-us-dairy-suppliers-over-cheese-plant/
