Danone Canada says the $40 million investment in its Quebec plant is going toward the production of its OIKOS brand
Boucherville, Que. – One of Canada’s largest producers and manufacturers of yogurt and fresh dairy is making a $40 million investment in its Quebec plant.
Danone Canada made the announcement alongside Pauline Marois, Quebec’s premier, and Élaine Zakaïb, minister for Industrial Policy and the Banque de développement économique du Québec.
Investissement Québec is contributing with a $5 million interest-free loan.
The company says the $40 million investment is going towards the production of its OIKOS Greek yogurt brand.
Danone adds that it has acquired precision equipment that will provide greater versatility in the manufacturing and packaging of its yogurt line.
Busy year of investments
In terms of investments, 2013 has been a busy year for Danone’s parent companies worldwide.
In January, Danone SA said it planned to invest 30 million Euros in its plants in the Ukraine in the next three years. The funds will go toward improving quality and introducing new products.
In May, Danone Group agreed to invest 325 million Euros in two deals with Mengniu Dairy Co Ltd of China, a company hit hard by accusations of selling tainted milk.
At the time, the company said the Chinese yogurt market is currently worth 2 billion Euros in annual sales and that amount will more than double in the next five years, reports Reuters.com.
In Canada, the production of the OIKOS brand at the Boucherville plant is generating 25 direct jobs, 10 of which are a result of this $40 million investment as well as 250 indirect jobs.