Nestle Plans New Dairy Production in China
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The Swiss company said it plans to invest $45 million in two dairy product ventures in Qingdao in the province of Shandong in eastern China. The joint ventures--Nestle will hold a 75% stake in each--are with Qingdao Milk Course Co. One operation will produce products such as sweetened condensed milk and milk powder. The other will be used for ice cream and yogurt production. Nestle has three factories operating in China, and “business is growing at a very satisfactory rate,” the company said.
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