Fonterra has temporarily shelved plans to spend A$10 million (€5.1 m) upgrading its Wynyard cheese factory in northern Tasmania, Australia, following concerns about the current economic climate. However, Fonterra managing director Bruce Donnison says he remains confident of a turnaround in dairy fortunes in the future. "This recent credit crisis, and the demand drop off as a result, is reflecting on our farmers and how they perceive their business," Donnison told an Austalian TV station. "But ultimately I'll be looking for more milk to fill up the capacity that we have here in Tasmania." He went on to say that Fonterra remains committed to its plan to boost milk production in Tasmania by about 20% to 500 million litres.
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