Vinamilk licensed to invest in New Zealand

VGP - Việt Nam Dairy Products Joint-Stock Company (Vinamilk) has been licensed to invest in Miraka Limited Company in New Zealand.

September 14, 2010 11:20 AM GMT+7

Illustration photo

Miraka, the high-quality milk processing plant located on New Zealand’s North Island, will officially come into operation in August next year.

As the only foreign shareholder, Vinamilk will hold 19.3% shares of the plant.

The NZD 121-million-plant has a designed capacity of 32,000 tons of milk powder per year.

Established in 1976, Vinamilk is Việt Nam’s leading milk processor, with a market share of 75%. Vinamilk also exports dairy products to the US, France, Canada, Poland, Germany, Middle East and Southeast Asia.

Vinamilk is the only firm from Southeast Asia making its name among Forbes’ 200 best companies across the Asia-Pacific region in 2009. It boasts for revenue of US $575 million, ranking 16th, net profit of US $129 million (18^th) and market value of US $1.56 billion (31^st).

By Thùy Dung