Arla Foods to create stronger dairy structure
Swedish-Danish cooperative Arla Foods is planning to invest DKK1.8bn ($317.73m) in the year 2012 to primarily create a stronger dairy structure and increase capacity, as a part of its strategy to support its international competitiveness.
The investment will also be used to focus on growth markets, to generate CO2 and energy savings, as well as in the processing of whey ingredients.
Of the total investment, approximately half will be allocated to capacity and rationalization projects. One of the biggest single investment areas will be in the ingredients division, where DKK246m ($43.42m) will be invested in various projects, including a new drying tower at Denmark Protein in Videbæk.
The new drying tower is being constructed as a part of the company's joint-venture with the German dairy company DMK.
Arla Foods CEO Peder Tuborgh said that the investments, which are being made at a time of economic crisis and slow consumer spending in the US and Europe, are vital to maintain the company's competitiveness.
"We believe that these investments in increased efficiency and rationalization will support our long-term competitiveness and growth ambitions," Tuborgh added.
According to the company, it expects to post a turnover of approximately DKK59bn ($10.41m) in 2012.
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