«This contract will allow the construction of a new factory, in Méautis, near Carentan in the Channel, with an investment of 114 million euros and create 200 jobs»
Les Maîtres Laitiers du Cotentin, whose 754 owner-farmers produce 367 million litres of milk per year, then processed in the group’s factories, claims to have signed an eleven-year supply contract with Synutra.
This is the third Chinese investment in dairies in France. Synutra had already initiated the movement at the end of 2013 by investing €136M alongside Sodiaal in a milk powder plant in Carhaix in Brittany that will generate 250 direct jobs.
More recently, the Chinese group Biostime has invested €17.5 million, or 20% of the total investment, in the new infant milk plant of the Isigny Sainte-Mère cooperative
To find out more, read the excellent article in Les Echos explaining the reasons and gains to bring a Chinese industrialist into his capital: WHY THEY BET ON FRANCE, Les Echos 1 February 2014
Cotentin Dairy Masters join forces with Synutra to create a factory : Web-Agri.fr