The Driftwood Dairy was established in the 1920s. This retail store was built in 1961. It was originally known as the Driftyland Dairy-Port. — Photo roadarch.com

Vimamilk has released information about the Ministry of Planning and Investment’s approval of its investment of another $3 million into Driftwood, bringing the total capital investment in the US firm to $10 million and reaching 100% ownership.

Earlier, in December 2014 Vinamilk was licenced to pay $7 million to acquire 70% shares of Driftwood Dairy.

In the 2016 shareholders’ general meeting of Vinamilk, CEO Mai Kieu Lien said that Vinamilk’s mergers and acquisitions in the near future will be intensified. Vinamilk will aim to have firms that have many new, good products, using modern technologies.

Driftwood Diary is a subsidiary of Vinamilk, headquartered in California, USA, specializing in the production and distribution of dairy products, fruit juices and snacks ... Its products are distributed inside and outside the US.

Vinamilk opens dairy plant in Cambodia

The Angkor Dairy Products Co Ltd, a joint venture between Vietnam’s Vinamilk and its partner in Cambodia, the BPC Company, opened the Angkor Dairy Plant, the first of the venture in Cambodia.

Speaking at the launching ceremony on May 25, Deputy Prime Minister Men Sam On said the plant will not only contribute to Cambodia’s economy but also bring long-term benefits to the physical and mental development of locals, especially children.

While lauding the cooperation between Vinamilk and BPC, the Deputy PM hoped for more projects of social and economic significance to be implemented in the country.

The plant has a total investment capital of 23 million USD and covers an area of 30,000 sq.m. In the phase 1, it will produce 19 million litres of milk, 64 million yogurt cups and 80 million cans of condensed milk.

Upon the completion of phase 2, the plant will raise its capacity to 38 million litres of milk and 192 million yogurt cups to serve the Cambodian market.

Nam Nguyen