11-07-2014 08:52 AM | China

Abbott Labs to build dairy farms in China

Abbott Laboratories is getting into the dairy farming business.

The Lake County medical products giant said Thursday it has partnered with New Zealand-based Fonterra Co-Operative Group Ltd. to develop up to five diary farms with more than 16,000 dairy cows in China. The two companies signed an agreement to spend about $300 million to build the farms, which could produce about 42.3 million gallons of milk a year.
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