Joint Venture To Produce Whey Proteins
A joint venture for the production of whey proteins has been signed between the multinational dairy company Fonterra and UK-based First Milk's for Fonterra's growing food ingredients business in Europe. The two companies will combine their intellectual property and industry expertise to produce value added whey proteins at First Milk's Lake District creamery in Cumbria, England. For Fonterra this joint venture is for the purpose of increasing its market and meeting the nutritional ingredient demand in Europe while for First Milk this deal will add value to the whey proteins side stream of the cheese making process thereby enhancing the returns which it be able to pass back to their farmer members. Kate Allum, CEO, First Milk commented on the joint venture this is their first step into value added whey proteins markets and this would help the company build on the work they have done recently with a range of partners with regard to whey proteins supply and other nutritional supplements supply.