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NORCO's sweet $25M investment

SWEET INVESTMENT: NORCO chief executive CEO Brett Kelly (L) and Coles State General Manager Jerry Farrell. Mr Kelly said NORCO is investing $25 million in its Lismore ice-cream manufacturing operations over three years.
SWEET INVESTMENT: NORCO chief executive CEO Brett Kelly (L) and Coles State General Manager Jerry Farrell. Mr Kelly said NORCO is investing $25 million in its Lismore ice-cream manufacturing operations over three years. Brad Wagner Photography

WHILE other dairy companies are struggling, NORCO is scooping up its profits and investing $25 million into improving their Lismore ice-cream operations.

According to NORCO chief executive Brett Kelly, the company is committed to the community and has allocated a significant amount to bring it's facilities

"Initially this is three year project and in the the first financial year we will spend around $7 million improving and updating plant equipment at the icecream factory," he said.

"We have $14 million marked for the first two years and then more capital for the third year."

Mr Kelly said this investment strategy will allow NORCO to complete in an increasingly competitive marketplace.

"These investments will take us to the next level of creating better technical efficiencies and growing business volume," he said.

"The Co-op is trading very well and ice-cream in Lismore is a big part of the business, so this will increase our business capabilities."

Mr Kelly said as the largest contract packer of ice-cream in Australia for supermarkets, NORCO has a bright future.

"NORCO is ahead of budgeted profit by 12% and we are paying the highest farmgate prices to our members," he said.

"As we have no external shareholders, it all goes to back the farmer of the Northern Rivers

The award-winning company is 100% farmer owned and has been part of the regional community since 1895.

Topics:  icecream norco norco investment northern rivers business


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