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Australian Dairy Farms Group to develop facility to export high quality milk

Australian Dairy Farms Group (ASX:AHF) has signed an agreement with its primary Chinese customer, to jointly develop a new processing facility in Victoria.
Australian Dairy Farms Group to develop facility to export high quality milk
Australian Dairy Farms Group to develop facility to export high quality milk

The new specialty milk processing and bottling facility will be built on AHF land and 100% funded by the Chinese customer, Australian Lian He Pty Ltd.
AHF is Australia's first ASX-listed dairy farmer and owns and operates four dairies on six properties.

In April 2016, AHF acquired Camperdown Dairy Company Pty Ltd turning AHF into a vertically integrated milk producer, processors and product distributor in Australia and for export.

The CDC processing plant produces and distributes milk, butter and yoghurt to Victorian Woolworths, Coles and IGA Supermarkets, with the range of products home delivered across Australia.

The joint investment proposal between AHF and Australian Lian is subject to final feasibility sign off by AHF.

The project has the opportunity to position AHF as one of very few milk processors in Australia capable of producing and exporting the high quality fresh milk required for export.

The joint investment entity is proposed to be held 40% by AHF and 60% by Australian Lian.

At the end of the September quarter, the company had cash of $1.8 million.

During the September quarter, AHF achieved sales of $4.84 million.

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