Warrnambool Cheese & Butter Factory Co.
(ASX:WCB) has inked a supply deal with Japan’s Mitsubishi Corporation.
The exclusive agreement will see Warrnambool supply premium milk powders for an initial term of three years.
The powders are expected to be used in the manufacturer of milk based beverages and dairy products for the Japanese market.
CEO David Lord says the deal reflects Warrnambool’s strategy of targeting premium dairy products and customer specific applications.
Shares in Warrnambool Cheese & Butter Factory rose 1.9 per cent on Friday following the announcement to finish the week at $1.93.
In the 2012 financial year Warrnambool Cheese & Butter Factory Company’s net profit dipped to $15.2 million.
