Vinamilk raises stake in New Zealand's Miraka Company
The Vietnam Dairy Products Joint Stock Company (Vinamilk) has got a licence to invest an additional nearly 3.5 million USD in Miraka Limited Company of New Zealand.
The Vietnam Dairy Products Joint Stock Company (Vinamilk) has got alicence to invest an additional nearly 3.5 million USD in Miraka LimitedCompany of New Zealand.
With this, Vinamilk's total investmentin Miraka has risen to more than 13 million USD, and its stake there hasincreased from 19.3 percent to 22.8 percent.
Vinamilk began its strategy to invest abroad by co-operating with Miraka to build a milk processing plant in New Zealand.
The plant became operational in August 2011, and reached full capacity production in August 2012.
In 2014, Miraka earned 164 million USD in revenue, a year-on-year increase of 51 percent.
Inearly 2014, Miraka contributed 51 percent of the capital to establishthe Angkor Dairy Products Company with the aim of building a factory toprocess milk products for the Cambodian market. It is expected to becomeoperational by the end of 2015.
In late 2013, Vinamilk invested 7million USD to buy a 70 percent stake in Driftwood Dairy Holding of theUnited States, which specialises in producing milk products, fruitjuice and snacks such as bread and cheese.
In the same year,Vinamilk got a licence to contribute 100 percent capital to establish acompany in Poland that would operate in the fields of agriculturalmaterials, milk and milk products, and food and beverages.-VNA
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