New Zealand dairy giant Fonterra said there is room for growth at its new factory in Echuca, Victoria.

Fonterra took over the yoghurt and dessert factory from Nestle.

Fonterra spokesman, Brad Voss, has said that the factory is not producing to its absolute capacity and with Nestle's strong brands in the yoghurt and dairy dessert market, there future of the operation is bright.

"From now on Fonterra will be manufacturing those products and through a licence agreement with Nestle will be marketing those products across the country," said Voss.

"We're also very excited about the opportunity to secure the licence of the iconic brand and will take and we'll be able to licence that brand from 2012."

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