Glanbia explores possible dairy expansion
01/03/2012 Website News
Glanbia is joining the growing list of companies mulling expansion in dairy even as it forecast a drop in milk prices this year, and a sharp slowdown in its profits growth.The Irish-based farm retail-to-ingredients group, Europe's top supplier of mozzarella cheese for pizzas, said it was investigating "possible options for expansion of dairy processing" in its home country, to exploit a change in regulation.
Ireland, with its pasture growth supported by a wet climate, "has a range of competitive characteristics" to succeed in growing milk production when the European Union in 2015 ditches output quotas, Glanbia said.
Indeed, the country's dairy industry has a "unique opportunity" for expansion.
The group was "reviewing the implications of the potential expansion of its supply base" when after quotas lapse.
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