Chinese Dairy Company Expands Business Overseas

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Last updated at: (Beijing Time) Wednesday, March 26, 2003

Chinese Dairy Company Expands Business Overseas

Sanyuan Foods Co. Ltd., of Beijing, has launched a joint venture to produce cheese and milk powder with a company in Capel City, Western Australia.

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Sanyuan Foods Co. Ltd., of Beijing, has launched a joint venture to produce cheese and milk powder with a company in Capel City, Western Australia.

It is the first overseas joint venture to be established by a Chinese dairy company.

Guo Weijian, general manager of Sanyuan Foods Co. Ltd., announced Tuesday the Australia Sanyuan-Challenge Dairy Co. Ltd., would begin operations on April 1.

Guo said the joint venture required an investment of 27 millionUS dollars which was equally shared between Beijing Sanyuan and Australia Challenge Cooperative Dairy Co. Ltd.. The term for cooperation is 20 years. The joint venture would process 300,000 tons of fresh milk annually.

About a half of the products made by the new company would be sold back to China where the market demand for fresh milk is increasing, said Guo.

China produced 10 million tons of fresh milk, 580,000 tons of milk powder and one million tons of other dairy products in 2001.

Sanyuan Foods Co. Ltd., which produces 300,000 tons of milk a year and its assets exceed 1.2 billion yuan (145 million US dollars).

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