date:Sep 29, 2013
o Ltd of which COFCO is the largest shareholder, is building a factory in Waikato, New Zealand, with an investment of 1.1 billion yuan ($178.95 million) and an estimated annual production volume of 52,000 tons of milk powder.
Wan said the company will support Mengniu's decision to further boost its milk powder business, despite low consumer confidence in domestic milk powder brands after a 2008 scandal in which melamine - an industrial chemical - was added to milk to make it seem richer in prot