June 24, 2011
India's Sungrow Australia acquires Hastings Valley Dairy
Indian company Sungrow Australia has made an offer to purchase the dairy factory of a co-operative on Australia's New South Wales Mid North Coast.
The company has plans to increase milk production, build a milk powder plant and also add Indian dairy products to the current range of Hastings Valley Dairy products.
Sungrow chairman Chiprasean Gulave says it will export more than 50% of the product.
"This is a manufacturing company wanting to start dairy business here in dairy cattle and dairy processing making liquid milk and milk powder, all dairy product to be exported to Gulf countries. We want cheeses also to be exported to Dubai," Gulave added.
The sale is subject to the approval of the Hasting Co-op's shareholders.
