The Irish Farmers Journal understands Chinese infant formula company Newbaze may partner with Kerry Group as a supplier of base infant formula ingredients for its new infant formula packing facility in Carrickmacross, Co Monaghan.
While no formal contracts have been signed, a tie-up between Kerry and Newbaze would make sense given the two companies have been working together for a number of years. Newbaze is already an established player in the €30bn Chinese infant formula market.
Newbaze acquired the old Bose electronics factory in Carrickmacross last year and is in the process of converting the plant to package finished infant formula.
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Commercial production at the plant is expected to begin in 2019, with Newbaze aiming to manufacture up to 5,000t of infant formula under its own brand for export directly to China.
Infant formula manufactured in Ireland will allow Newbaze to target the super-premium end of the infant nutrition market in China, where product sells for almost four times the price of standard infant formula.
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The Irish Farmers Journal understands Chinese infant formula company Newbaze may partner with Kerry Group as a supplier of base infant formula ingredients for its new infant formula packing facility in Carrickmacross, Co Monaghan.
While no formal contracts have been signed, a tie-up between Kerry and Newbaze would make sense given the two companies have been working together for a number of years. Newbaze is already an established player in the €30bn Chinese infant formula market.
Newbaze acquired the old Bose electronics factory in Carrickmacross last year and is in the process of converting the plant to package finished infant formula.
Commercial production at the plant is expected to begin in 2019, with Newbaze aiming to manufacture up to 5,000t of infant formula under its own brand for export directly to China.
Infant formula manufactured in Ireland will allow Newbaze to target the super-premium end of the infant nutrition market in China, where product sells for almost four times the price of standard infant formula.
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