Happy Valley Nutrition (ASX:HVM) shares spike on low quarterly spending
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  • Happy Valley Nutrition (HVM) enters a supply deal with Burt Lewis Ingredients (BLI), a global distributor of dairy-based ingredients
  • The three-year deal will see Happy Valley make and supply at least 4800 metric tonnes per annum of nutritional milk powders to BLI
  • Happy Valley will manufacture the products from its processing facility in New Zealand which is currently in the first phase of construction
  • The agreement is subject to BLI being satisfied with certain operational and quality conditions
  • Happy Valley's shares were trading 6.67 per cent in the green at 16 cents

Happy Valley Nutrition (HVM) and Burt Lewis Ingredients (BLI) have signed a conditional contract for the supply of nutritional products.

Once certain operational and quality conditions have been satisfied, Happy Valley will manufacture and supply at least 4800 metric tonnes of nutritional milk powders per annum to BLI.

BLI is a subsidiary of Burt Lewis International which was established in 1976 and has become a global distributor of various dairy-based products. BLI prides itself on sourcing and distributing the "world's best" dairy ingredients and only offers products that meet its quality and safety standards.

"Securing this supply agreement validates the requirement for the type of capability our plant offers customers. Our goal is to work with our partners to satisfy market demands," Happy Valley Nutrition CEO Greg Wood said.

Under the three-year deal, Happy Valley will produce the nutritional milk powders from its processing facility in Ōtorohanga, New Zealand, which is in the first phase of construction.

According to the company, the facility will be able to produce 35,000 tonnes per annum of various nutritional ingredients and formulaic products once operations commence in 2023.

Happy Valley's shares were trading 6.67 per cent in the green at 16 cents at market close.

HVM by the numbers
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