Oceania Dairy of China is building a NZ$214 million (€128.6m) factory in Glenavy, New Zealand in time for the start of the new dairy season in May or June. It will produce milk powder for export to China, where it will be used to produce infant formula. The owner of the plant, Oceania Dairy, is a wholly-owned subsidiary of Inner Mongolia Yili Industrial Group (Yili). Oceania Dairy has signed its first milk supply agreement, representing a group of foundation suppliers covering 20 individual dairy farms.
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