Synutra : Chinese investment the stuff of dreams

The Chinese group Synutra (12,000 employees) opened its first powdered baby milk factory at the end of September at Carhaix. The factory has the largest milk drying tower in Europe. Have entered into a procurement agreement with Sodiaal for 288 ML/year of milk, Synutra is predicting quickly reaching an annual turnover of €500M. Sixty further jobs are planned in addition to the 200 already created, without counting the three to four hundred jobs in sub-contracting. Whilst two other milk factories are being built in Carhaix, young people are being hired as apprentices.

Synutra is also planning to open a hotel-restaurant to welcome some 2.000 Chinese, customers, consumers and Synutra employees, who are expected to visit the site every year. According to Les Echos, the Synutra installation in Carhaix has the potential “to make all the French economic development agencies jealous” and suggests that France is achieving new maturity in terms of appeal for China. As underlined by V. Chamaret, Managing Director of Bretagne Commerce International (BCI), installations like Synutra or Thai Union (Thailand) testify to the interest shown by Asian countries in Bretagne. He believes that their strategy is to acquire shares in or buy out a company with at least one factory to secure supplies and/or invest in the European market.

Sources : Les Echos – 29/09/2016, L’Hebdo du Finistère – 26/09/2016