Bega Cheese will invest in a $20 million project to advance their manufacturing capability with the support of a $5 milion grant from the Australian Government’s manufacturing transition program.
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The company will purchase plant and equipment to increase its production of lactoferrin from existing milk solids received for the Asian export market.
Federal MP for Eden-Monaro, Dr Peter Hendy, said the program was part of the government’s commitment to ensuring a secure future for manufacturing in Australia by focusing on areas of competitive strength.
“This investment will enable successful Australian manufacturers like Bega Cheese to transition to high-value, knowledge-intensive manufacturing,” Dr Hendy said.
“Bega Cheese will be able to invest in more sophisticated and knowledge intensive manufacturing, creating high value jobs in areas where the greatest economic opportunities exist.”
“Bega Cheese are backing themselves by also investing their own dollars and are carving their place in a changing global market,” he said.
Of the 79 businesses that applied for funding, 19 received between $1 million and $5 million.
The funded projects will drive investment in new capital equipment and improvements to plant and processes, which will deliver growth that builds on Australia’s competitive advantage.