Parmalat to invest $4m in Zambia’s dairy industry

Italian multinational dairy and food corporation, Parmalat says it plans invest over $4 million milk production plants Zambia this year.
This week, Parmalat unveiled a $800,000 powdered milk plant Zambian capital Lusaka.
“This year Parmalat is investing K30 million ($4.9 million) capital projects. This would be followed by an ultra-high temperature processing (UTH) steriliser and homogeniser at a cost of K11 million ($1 78,5047),” Parmalat Zambia Limited managing director Mike Mallet said.
“The new projects are expected boost output in the country as well as make Zambia a hub for milk production,” he added.
Parmalat has become the leading global company in production of long-life milk using the ultra-high-temperature (UHT) process, the company once collapsed in 2003 with a $20 billion hole in its accounts in what remains Europe’ biggest bankruptcy.
Since 2011, it is a subsidiary of French group Lactails. Today, Parmalat is a company with a global presence, having operations in
Europe, Latin America, North America, Australia, China and Africa.
Its worldwide operations include almost 140 production centres and more than 36,000 employees, while 5,000 Italian dairy farms are dependent on the company for the bulk of their business.  (VENTURES AFRICA)

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