Yili’s factory opens in NZ
Print Edition
CHINESE dairy giant Yili’ first major plant abroad was officially opened in New Zealand’s South Island yesterday with the announcement that it will almost triple its investment in the factory by 2019.
The factory in Glenavy, South Canterbury, built at a cost of NZ$236 million (US$185.14 million), was built by Oceania Dairy Ltd, a wholly-owned subsidiary of Inner Mongolia Yili Industrial Group.
Shanghai-listed Yili also confirmed it planned to invest another NZ$400 million in the factory, which is already producing infant formula, over the next five years.
More than 70 jobs had been created within stage one of the new plant, which was completed in September, and it was processing 220 million liters of milk from 48 local farms in its first season, Yili Group Executive President Zhang Jianqiu said in a statement.
“The Oceania Dairy factory at Glenavy is Yili’s first major offshore investment and the company is very focused on ensuring the success of the operation,“ said Zhang.
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