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Article: Developers Fail to Secure Funds for New Wisconsin Cheese Processing Plant.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 12, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Tom Daykin, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Apr. 12--Plans for a new $200 million cheese processing plant -- the biggest in Wisconsin -- have been dropped after the prospective developers were unable to raise financing, officials said Wednesday.
Executives from Waupun-based Alto Dairy Cooperative and Minnesota-based Land O'Lakes Inc. have decided not to pursue development of the joint venture plant.
"Neither of us have the amount of money it would take," said Karen Endres, director of communications for Alto, which posted revenue of $367 million during its fiscal year that ended June 30.
"In this ...