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Investment budget of DKK 788 million

Press Release   •   Nov 09, 1999 13:12 CET

Last Monday, MD Foods' Board of Directors approved an investment budget of DKK 788 million for the parent company for the year 1999/2000. By comparison, last year's investment budget totalled DKK 845 million.

The Home Market Division, which is currently building the new cheese dairy at Taulov, continues to account for the major share of the investment budget, i.e. DKK 350 million. Of this, the Taulov Dairy accounts for DKK 200 million apportioned equally between the completion of the so-called Stage 1 and the construction of a new storage facility for up to 10.000 pallets of cheese.

The Europe Division's investment budget amounts to DKK 245 million, while MD Foods Ingredients will allocate DKK142 million for investments during the coming year. Environmental improvements continue to account for a significant share of the budget. The same is the case with investments necessitated by the rationalisation processes following the merger with Kløver Mælk.