Date
27 April 2018

Fonterra looks to baby milk for growth formula, Bloomberg says

Fonterra Cooperative Group Ltd. will start nationwide sales of its first baby milk formula in China within the next year, Bloomberg News reported Tuesday, citing a senior executive. The New Zealand-based dairy products giant, which started selling its Anmum-brand infant milk powder in the southern city of Guangzhou as part of a pilot project, is considering Shanghai and Chengdu among the next cities for a roll-out of the formula and will expand the presence to 70 Chinese cities later, Kelvin Wickham, managing director of Fonterra’s China and India units, was quoted as saying. The company plans to hire as many as 500 new employees, boosting the workforce by about 50 percent in the next year, as it seeks to expand its consumer and farm businesses on the mainland and regain consumer confidence after a contamination scare earlier this year, the report said.

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