Warrnambool Cheese and Butter Factory (ASX: WCB) made dual announcements today, switching up its management team and forging a new partnership with Kraft Foods. In a brief statement, Warrnambool notified shareholders that Director Barry Irvin has resigned from his leadership position, handing the reins to former Director/current Associate Director Bruce Mortley.
Warrnambool also announced a new cream cheese manufacturing partnership with Kraft Foods Australia. Per the two corporations' agreement, Kraft Foods will manufacture cream cheese under Warrnambool's Sungold brand. Kraft will begin production in Q2 CY2013, and will eventually produce up to 5,000 metric tonnes of "Sungold" cream cheese every year for export to Asia and the Middle East.
This new partnership follows close on the heels of Warrnambool's announcement that it will produce premium low fat cheese under Kraft's Livefree brand. Kraft's Managing Director of Foods Darren O'Brien remarked that "Australian food companies are strong in food innovation and our products are trusted around the world, so it's great that we're making the most of our local manufacturing capabilities." Warrnambool CEO and Managing Director David Lord noted that "both agreements are consistent with WCB's strategy to build a portfolio of higher margin products and deliver more customer specific applications."
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