FRANCE: Synutra starts building work for drying facility
Synutra has started building work on its 200,000sq.m drying facility in France
Chinese infant formula firm Synutra International has started construction of a drying facility for powdered milk and fat-enriched demineralised whey in Carhaix in France.
The 200,000 sq metre site is being built through a partnership between Synutra and Frendh dairy group Sodiaal announced in 2012. Each party has invested around EUR100m (US$131.4m) in the project. The facility will have a production capacity for 100,000 tonnes annually.
Synutra chairman and CEO Liang Zhang said: "When completed, the facility will secure a long-term, stable supply of raw material imported from France, further solidifying Synutra as a quality and trusted brand. With advanced production equipment and our French partner's world-leading managerial expertise in the dairy industry, Synutra will have greater capacity to provide safe and nutritious formula to more infants in China."
The facility is expected to be operational by early 2015.
QINGDAO, China and ROCKVILLE, Md., Jan. 14, 2014 /PRNewswire/ -- Synutra International, Inc. (NASDAQ: SYUT), ("Synutra" or the "Company"), which owns subsidiaries in China that produce, market and sell nutritional products for infants, children and adults, announced the commencement of construction of its new drying facility in Carhaix, France (located in the department of Finistere in the Brittany region).
On January 10, 2014, the Company held a ground-breaking ceremony in Carhaix, which was attended by distinguished guests including Mr. Pierre Maille, President of General Council of Finistere, Mr. WU Xilin, Minister-Counsellor of Economic and Commercial Affairs in Chinese Embassy in France, and Mr. PAN Nuo, President of Bank of China Paris Branch.
As previously announced, under the partnership agreement between Synutra and France's Sodiaal, the drying facility is intended to manufacture powdered milk and fat-enriched demineralized whey for the needs of Synutra. Over the course of 2013, Synutra received key regulatory approvals and construction permits and the project also received the internal credit approval within Bank of China for the construction period financing. The facility is designed to have a total plant area of 200,000 square meters, a total construction area of 40,249 square meters, with production capacity of up to 100,000 tons annually. The facility will comply with both EU and China's manufacturing standards and will adopt world-class production and testing equipment, management techniques, and strict EU standards for material selection, production, and packaging, to ensure high quality and nutritional value for Synutra's products.
Mr. Liang Zhang, Chairman and CEO of Synutra, said, "The start of construction of our new drying facility launches the implementation phase of this project. When completed, the facility will secure a long-term, stable supply of raw material imported from France, further solidifying Synutra as a quality and trusted brand. With advanced production equipment and our French partner's world-leading managerial expertise in the dairy industry, Synutra will have greater capacity to provide safe and nutritious formula to more infants in China."
Original source: Synutra
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