Chinese dairy major Inner Mongolia Yili Industrial has partnered with Dairy Farmers of America (DFA) to establish a dairy plant in Kansas.
The company owns 30% stake in the joint venture, which has a registered capital of around $100m.
When operational, Kansas dairy plant is expected to have a capacity to produce 80,000 tons of dairy powder annually, ecns.cn reported.
Inner Mongolia Yili Industrial CEO Zhang Jianqiu was quoted by the news agency as saying that bridging American dairy farmers with Chinese consumers, the project was a win-win deal.
The company has generated $374.6m in net profit during the first half of the year. Its operating revenues have increased by 13.59% year on year during the same period.
Founded in 1956, Inner Mongolia Yili Industrial produces and distributes dairy products and mixed feedstuffs in China.
It offers liquid milk, milk beverage, sorbet, ice cream, milk powder, milk tea powder, yoghurt, and cheese products, as well as soybean powder.
