5 July 2002

EMP aims to raise investment funds capital

EXPRESS Milk Partnership is planning to restructure so it can raise capital to invest in processing, it announced at the show.

Although EMP chairman Jonathan Ovens did not reveal many details, he said capital would be raised from the 1200 members, probably in a similar way to co-ops Milk Link and Dairy Farmers of Britain.

This cash would be invested in processing, possibly with its existing processing partner, Express Dairies.

"The structure of the UK dairy industry is changing significantly and we can no longer assume that all of our founding principles will serve the best interests of our members in the future. This move will enable us to take advantage of any opportunities that may come our way."

EMP is consulting with its members, who had been extremely positive so far, said Mr Ovens. "EMPs producer directors have a clear vision of how the partnership must develop and we anticipate that our new capital raising structure will be in place by Oct 1." &#42