SHANGHAI, March 29 Dutch dairy Royal
FrieslandCampina N.V. said on Wednesday a joint venture with
embattled China Huishan Dairy Holdings Co Ltd remained
operational but that it was "closely monitoring" the situation
after Huishan Dairy saw its shares plummet over financing
Huishan Dairy, one of the top dairy farmers in China that
saw $4 billion wiped off its shares in a single day last week,
said on Tuesday that it had missed loan repayments and lost
contact with a key executive in charge of its finances and cash.
"FrieslandCampina is closely monitoring the situation and
will, if necessary, take appropriate action to ensure successful
continuation of the joint venture's activities in the Chinese
market," the Dutch firm said in a statement on its website.
It said the joint venture, Friesland Huishan Dairy, remained
operational and that the firm was focused on ensuring continuity
for employees, customers and suppliers.
Huishan Dairy and FrieslandCampina each own 50 percent of
the joint venture firm which produces and markets infant milk
formula and other dairy products in China.
Huishan Dairy's Hong Kong-listed shares are currently
(Reporting by Adam Jourdan; Editing by Subhranshu Sahu)