Glanbia, the Kilkenny-based, global nutrition and dairy company has announced it’s in advanced discussions with its joint venture partners to proceed with a $140m expansion programme at their cheese and whey production plant in Clovis, New Mexico.
If the expansion happens it will be funded by South West Cheese – this morning’s announcement acknowledges the importance of State and local government support for the expansion to be successful.
Other partners in the ten-year old facility are the dairy co-ops of Greater Southwest Agency, including Dairy Farmers of America & Select Milk Producers.
The Clovis plant is already one of the world’s largest single site producers of whey protein and of premium cheeses such as Cheddar, Monterey Jack and Gouda, it employs close to 400 people.
In a trading statement this morning Glanbia has confirmed that revenues in its wholly-owned business were 9% higher in the nine months to early October, but declined by close to 5% on a constant currency basis due to the strength of the dollar.
It expects earnings per share to rise by between 9% and 11% over the full year on a constant currency basis.
Source: Newstalk