4 Feb 2016

Fonterra strikes deal with Chinese formula maker

2:43 pm on 4 February 2016

Fonterra has formalised a joint-venture deal with Chinese infant formula maker Beingmate.

The Chinese firm takes a 51 percent stake in the dairy company's Darnum plant in Australia.

Fonterra will retain a 49 percent stake and control of the plant.

It is expected the first product destined for Beingmate's Chinese customers will roll off the line in the second half of the year.