RECORD profits, unprecedented growth and a hugely positive outlook has made Glanbia one of the top 10 companies in Ireland. This morning Wednesday, the Kilkenny city based food giant is expected to announce 30% growth in its nutritional business in the US alone with another expected 20% increase in business for 2012, raking in the dollars.
Overall it is expected to have overall profit increases of around 20% with strong performance from Dairy Ireland and its flagship factory, Ballyragget.
And it is already gearing up for massive expansion when Irish farmers will no longer be confined on the amount of milk they can produce when the EU milk quota regime ends in 2014.
Speculation is mounting of another attempt to split the publicly quoted company, Glanbia Plc and Glanbia Co-op which owns 54% of the plc and is controlled by farmers. This would be done to raise the millions of euro required to upgrade and expand its milk processing systems throughout the island of Ireland.
It is understood that a joint venture between the Plc and Co-op is also being looked at as a possibility as is a link up with Dairygold based in Cork for a new milk processing plant to rival the biggest and most efficient in Europe. Dairygold and Glanbia are already helping each other with milk distribution and other logistical matters.
There will be strong claims to have this new super factory sited in Belview in South Kilkenny. The new water scheme now services 240 hectares of industrial land around Belview Industrial Park and Waterford Port which has already signalled interest in bringing Glanbia to Belview as has the IDA.
Another option would be a new factory in Dungarvan, Co Waterford, closer to Dairygold’s headquarters in Mitchelstown. The old milk processing plant in Dungarvan was closed down some years ago in a rationalisation programme.
Glanbia declined to comment on any part of the story and have said previously, to other media organisations, that no decision on plans to cater for the extra milk post 2014 would be taken for a number of months.
It is definite that Glanbia will expand its Ballyragget plant and preparatory work for that has already started.
And last week the company launched a new cholesterol lowering drink to take on the existing Continental food companies in what is a hugely lucrative and growing market. The new Avonmore Heart Active, can be taken as a drink, in tea, coffee, or cereal. So consumers can get their daily plant sterols, with no compromise on taste and know they are supporting a Kilkenny and Irish company!