United Milk seeks 20m from farmers

By Farmers Weekly staff

UNITED Milk has secured 35 million of conditional funding from the Bank of Scotland to help build its proposed new milk processing plant at Westbury, Wiltshire.

It now needs to raise a further 20m from dairy farmers, and this week saw the launch of its share offer to investors.

Those buying shares will secure capacity in the new plant for a minimum price premium.

UM has extended the share offer deadline by two weeks to 4 July, apparently to allow members more time to organise finance.

The company advises producers to contact their bank, or NFU Mutual Finance, who are aware of UMs plans.