Fonterra to build third Chinese farm hub with NYSE-listed Abbott

Thu, 10 Jul 2014

By Paul McBeth July 11 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, plans to build a third farm hub in China in a US$300 million joint venture with New York Stock Exchange-listed Abbott Laboratories, in its latest attempt to latch on to growth in the world's second biggest economy. The companies signed an agreement to develop a dairy farm hub, consisting of up to five farms and more than 16,000 cattle, producing up to 160 million litres of milk a year, they said in a statement. The deal is subject to ap...

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