date:Jun 28, 2012
According to Glanbia, it plans to reduce its stake in Dairy Ingredients Ireland, as part of its strategy to increase production capacity ahead of the abolition of EU milk quotas in 2015.
Further, the company intends to focus more on its global nutritional and cheese businesses. Dairy Ingredients Ireland is one of the leading dairy ingredients processor in Ireland and it generates annual revenues of about 700m.
The joint venture will help the co-operative's farmers to hold 60% control of Glanbia