Freedom Foods Group has unveiled plans to invest approximately $29 million to upgrade the capacity of its Shepparton dairy facility.
According to the company’s statement, the investment will increase the site’s total dairy milk processing capacity to 500 million litres per annum, from the current processing capability of 300 million litres per annum.
Freedom Managing Director and CEO Rory Macleod said the planned capital expenditure, the first since the company’s recent $200 million capital raising, will include upgrades to site services, raw milk, cream receival and storage, and standardising and processing equipment installation.
“This is an exciting time for the Australian dairy industry,” Mr Macleod remarked.
“Freedom is undertaking this significant expansion because it is determined to capture the opportunities that have arisen to build its position in key markets while sharing the benefits with farmers who are central to our success.”
The planned expansion will be funded through utilisation of funds from the abovementioned $200 million capital raising.
