Westland Milk pours land into new infant formula joint-venture with HK's Ausnutria

Thu, 29 Sep 2016

By Paul McBeth Sept. 30 (BusinessDesk) - Westland Milk is putting a $3 million plot of land next to its Rolleston factory into a new joint venture with Hong Kong-listed Ausnutria Dairy to build a new infant formula plant operating under the Pure Nutrition moniker. The milk processor will take a 40 percent stake in the Pure Nutrition joint venture company, while Ausnutria will get 60 percent with the Hong Kong company injecting $4.5 million of cash and loaning $32 million to the subsidiary to build a blending and canning plant at Rollesto...

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