AUSTRALIA DAIRY GIANT REASSURES CLIENTS AFTER PARENT PUT INTO RECEIVERSHIP
November 1st, 2014
Marcus Derwin, the new managing director at Australia's largest privately-owned milk processing company United Dairy Power (UDP), has said the company will continue to trade, despite its parent entering receivership. This follows financier Rabobank forcing UDP's parent company, Hong Kong-owned Five Star United Foods, into receivership on November 10. “It is very much business as usual at UDP, with the company making payments to its suppliers in the ordinary course”, Derwin told just-food. Rabobank appointed Derwin as chief of Five Star United Food, which also ...
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