Blessed are the cheese-makers: Beston’s 16,000t mozzarella plant goes online
Health & Biotech
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Like your mozzarella?
Diversified food producer Beston Global today christened a 16,000 tonne mozzarella factory in South Australia, describing it as its largest capital expenditure project to date.
“The mozzarella line has a production capacity of around 16,000 tonnes per annum of mozzarella and also provides increased production of its gold medal winning whey products,” Beston told investors.
Beston (ASX:BFC) says the world is in the grip of a high-quality mozzarella shortage, and its factory is just the solution.
Dairy Australia estimates annual consumption of cheese is 13.5 kg per person, with cheddar the most popular – but mozzarella is apparently catching with demand from restaurants and food services.
(The world’s biggest cheese-eaters, the Danish, consume about twice as much as Australians at 28.1 kilos per year).
But investor appetite is harder to come by, the company trading at 22c at open on Wednesday, down from highs of 28c just months ago.
It comes after the company upped its stake in ready-to-eat-meat business Scorpio Food earlier this month – now tasked for its restructure.
BFC chief Sean Ebert said the company’s cheese would once again be the best in the biz after restoring the plant from the receivership of previous business United Dairy Power.
“We believed we have restored our Jervois factory to its rightful place as being one of the foremost, premium manufacturers of Mozzarella cheese in Australia,” he told the market.
This factory is the standout in the company’s $26.5 million investment in its dairy operations over the last 18 months – to produce a wider product range domestically and abroad.