New Zealand dairy company Fonterra has said it will end its joint venture with Chinese company Beingmate under which they operate a factory in Melbourne , Victoria . We are looking at all aspects of our investment in Beingmate as part of that broader strategic review. In a statement , the firm said the move was part of a strategic review of all its investments . The Darnum plant , which produces nutritional powders , including infant formula for , Fonterra , Beingmate and other customers , has been operational for 20 years . In September , Fonterra reported its first annual loss after a drop in milk prices , which followed a loss of NZ$405 million ( $ 280 m ) on its almost 20 % interest in Beingmate in H1 2018 .
New Zealand dairy company Fonterra has said it will end its joint venture with Chinese company Beingmate under which they operate a factory in Melbourne , Victoria . In a statement , the firm said the move was part of a strategic review of all its investments . The Darnum plant , which produces nutritional powders , including infant formula for , Fonterra , Beingmate and other customers , has been operational for 20 years . In September , Fonterra reported its first annual loss after a drop in milk prices , which followed a loss of NZ$405 million ( $ 280 m ) on its almost 20 % interest in Beingmate in H1 2018 .