Olam Food Ingredients to develop dairy processing plant in New Zealand
NEW ZEALAND – Olam Food Ingredients, the ingredients arm of Singapore-headquartered food and agri-business company-Olam, has announced plans of setting up a new dairy processing facility in the North Island town of Tokoroa, New Zealand.
The new processing plant investment by the global leader in natural and sustainable ingredient solutions, follows 10 years as an investor in the New Zealand dairy sector.
It will become part of a global network that spans 20 major milk consumption markets, such as South-East Asia, China, the Middle East, and Africa further cementing its leading position among the top three dairy suppliers in the world.
According to the food giant, the first stage of the new investment development which will involve the construction of a spray dryer facility, capable of producing high-value dairy ingredients, is expected to be commissioned in Q3 of 2023, in time for New Zealand’s peak season.
“This facility will complement and enhance our ability to support our global customers meet growing consumer demand for products that are natural, nutritious and delicious.
“It will also help address their innovation, traceability, and sustainable sourcing requirements as New Zealand’s farming standards and high-quality milk are very well regarded,” said Mr. Naval Sabri, Senior Vice President OFI Dairy.
Further, the Tokoroa dairy ingredients will form part of OFI’s much wider natural ingredients portfolio which includes cocoa, coffee, nuts and spices, ideal combinations with dairy for customised products such as yogurts, protein bars and ready-to-drink tea, coffee and cocoa beverages.
“OFI has 14 innovation centres across the world, where our R&D teams will be excited to co-create new tastes and textures with our expanded range of dairy ingredients,” said Sabri.
The new facility, which will source milk from farms in New Zealand’s dairy heartland of the Waikato, is expected to create 50 to 60 full time jobs when fully operational.
Additional facilities at Tokoroa will be added over time to expand the range of high-value ingredient products manufactured at the site, targeting key customer applications in dessert, bakery, beverage, and confectionery categories.
Mr Sabri underlined New Zealand’s worldwide reputation for quality and sustainability saying, “At OFI, we aim to source, process and deliver our products and ingredients in a way that is right for the planet and the people who produce them – values long upheld by New Zealand.
“By working together with farmers and customers we can make a positive impact and realise joint sustainability ambitions.”
The move in New Zealand comes as parent group Olam International has appointed Niall FitzGerald as the Chair of the Board of Directors for Olam Food Ingredients.
This comes as the company intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022.
