Fonterra to spend $27M beefing up capacity at Te Rapa storage facility

Mon, 01 Jul 2013

July 2 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. The Auckland-based cooperative expects to save an annual $5 million in operating costs from a new dry store at the Waikato site, where its base capacity it at just 60 percent of standard season production in Te Rapa, it said in a statement. The new storage will more than double capacity at Te Rapa, meaning the local product can be stored in Waikat...

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