11 May 2007 - Singapore's Fraser & Neave Holdings Bhd (F&N) is investing USD 100 million in a new plant in the Klang Valley, Malaysia.
According to the ‘Malaysian Star’, the new factory is expected to help triple F&N’s capacity for condensed milk in the next 3 years, which currently stands at 8 million cases of milk cans all produced at the firm’s Petaling Jaya plant.
F&N is currently the leader in the local condensed milk market with its share estimated at 50% to 70%.
In February 2007, Fraser & Neave acquired Nestlé’s liquid milk factory in Thailand, which now produces 12 million cases of condensed milk. The purchase reportedly contributed RM156mil to group revenue, adds the paper.