New Glanbia Facility Opened

Glanbia plc, Kilkenny, Ireland, has negotiated with the Dairy Farmers of America (DFA), Kansas City, MO, and New Mexico-based Select Milk Producers to build a $170 million cheese and whey products production facility in the Western Texas/New Mexico region of the U.S. This new plant will be 50% owned by Glanbia with the balance jointly owned by DFA and Select. The proposed project will be funded by way of $35 million of equity investment each by Glanbia and DFA/Select with the remainder directly financed by the Joint Venture entity. If the project proceeds as planned, commissioning of the new facility is expected in the second half of 2005.