28 July 2000
United Milk share offer raises 9.75m
by FWi staff
UNITED MILK says it has raised the minimum amount of money needed to build a 40m pound farmer-owned milk processing plant at Westbury, Wiltshire.
Share applications have exceeded a minimum target of 9.75m set for a share offer aimed at raising 20m, said United Milk chairman Richard Ashworth.
Company directors are now seeking alternative funding to raise the balance needed to complete the offer, he said in a statement.
The share offer will remain open until 23 August. If all goes to plan, the processing plant will be up and running by the end of next year.