Two dairy production plants recently closed in South Australia have been saved, with a local company buying the failed enterprises from the receivers.
The Beston Global Food Company has bought United Dairy Power and plans to resume production from September.
Chairman Roger Sexton says the company hopes to employ most of 130 staff who lost their jobs when the plants at Murray Bridge and Jervois shut earlier this year, and then grow staff numbers and production over the next three years.
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Beston announced in April that it would seek to raise more than $100 million in an initial public listing on the stock exchange this year.
It also took equity stakes in two of South Australia’s best known local food company – the biodynamic dairy, B.-d. Farm Paris Creek, and lobster business Ferguson Australia.
– with AAP
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