Fonterra Aims to Double China Dairy After Milk Scandal
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Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, aims to double sales in China, Theo Spierings said during his first trip as chief executive officer to the nation where a 2008 tainted milk scandal led to the collapse of its local partner.
China’s dairy market will increase in value by more than 10 percent a year in the next few years and Fonterra plans to double sales by 2020, Auckland-based Spierings said in an interview on Bloomberg Television.