Global metal packaging manufacturer Jamestrong opened a new $15 million, future-proofed, can making facility in Auckland last night, catering to the burgeoning infant formula market.
Infant formula has been dubbed the white gold of the ANZ region, and the attendant rush seems to be showing no signs of abating with China driving demand and growth. The industry has an estimated value of $32 billion per annum, enjoying a CAGR of over five per cent. For Jamestrong Packaging, a market leading supplier of metal cans to infant formula manufacturers, this is good news.
At the opening of the company's Wiri, Auckland facility, its third plant in the region and the second in New Zealand in under two years, ANZ CEO Alex Commins said, "It’s quite incredible to be part of an industry where there is an insatiable appetite for our local product."