22 December 2000
Amelca’s Burton plant to go ahead
By Robert Harris
AMELCAs planned ultra-modern milk processing plant near Burton-on-Trent will be built.
The company announced on Thursday (21 December) that it has reached the minimum needed to get the scheme off the ground, following a decision by backers to underwrite part of the cost.
“I am pleased to confirm that we have now reached our minimum funding target,” says managing director Len Jackson.
“At close of business on 20 December, we had received applications for shares totalling 6.6 million, allowing the offer to proceed unconditionally.
“By last week we had received commitment for the milk we need and we are now asking our future suppliers to take the necessary steps to start supplying us with milk from 01 January, 2002.”
The now unconditional offer remains open to City backers until 14 February, which Mr Jackson says should allow an extra 3m of funds to be raised.
At full capacity in 2006, the factory will process 300m litres of milk a year, producing a turnover of 114m.
“I am delighted with the response to date and after talking to potential investors am confident that the balance of funds required will be forthcoming ahead of the final closing date on 14 February, 2001.”
- Amelca support overwhelming, FWi, 13 December, 2000
- Amelca out to woo the City, FARMERS WEEKLY, 08 December, 2000
- Amelca seeks 150 milk producers, FWi, 13 November, 2000