Milk Marque sets up manufacturing-investment arm
MILK MARQUE is to set up Milk Marque Developments, a subsidiary that will invest in manufacturing capacity. This is intended to mop up surplus milk and help stabilise prices.
Details will be unveiled at the European Dairy Farming Event at Stoneleigh, Warks, today.
The company is looking at the possibility of joint ventures or acquisitions. A deal could be announced in the next few weeks.
Andrew Dare, chairman of the new subsidiary, and a former chief executive of Milk Marque, said dairy farmers had no option but to invest in manufacturing capacity. Existing processors were not prepared to commit themselves to investing in more efficient plants, he said.
- Financial Times 17/09/97 page 37