Fonterra says a new cool store at its Whareroa site in Taranaki, New Zealand, will be crucial for building resilience in the co-op’s the supply chain and able to store around 26,000 tonnes of cheese.
It’s the latest investment announcement by the co-op, following its plans for a new protein plant at its Studholme site, and a new $150 million UHT cream plant at Edendale.
Fonterra CEO, Miles Hurrell, said the coop is looking to create “value at every point of the value chain” and grow its Ingredients and Foodservice businesses.
“Over the past few weeks, Fonterra has announced significant strategic investments to expand and upgrade its operations. Our strong balance sheet is enabling us to invest for future growth and support ongoing delivery of our strategy,” Hurrell said.
The cool store will be 19,000 square metres and increase the sites storage capacity by around 5000 tonnes.
Fonterra chief operating officer, Anna Palairet, said the big investments would have a significant impact on the co-op.
“As is always the case when making investment decisions, we carefully consider where to allocate capital to maximise value to farmer shareholders and unit holders over the long-term,” Palairet said.
“Our Whareroa site processes up to 12.5 million litres of milk per day and produces 30 per cent of the Co-op’s cheese, along with a number of other products including butter, casein, and powders.
“The Taranaki region is dairy heartland and I’m delighted we’re able to make this significant investment into shoring up our operations at this site, which is one of the largest in our network,” she says.
Construction will begin in October and forecast to take three years, while keeping the existing business operational.
About Whareroa site:
- established in 1972;
- processes up to 12.5 million litres of milk per day and produces a fifth of Fonterra’s New Zealand production;
- employs more than 1000 people; and
- has 11 plants and produces
- mozzarella
- dry salt cheese
- butter
- whole milk powder
- skim milk powder
- milk protein concentrate
- butter milk powder
- anhydrous milk fat
- whey protein concentrate
- whey protein isolate
- lactic casein
