Irish dairy co-op Aurivo is investing €48 million over the next five years as part of its “Engage 2022” strategic growth plan.
The investment – supported by Department of Business, Enterprise and Innovation through Enterprise Ireland – will boost employment across a range of projects across the co-op’s dairy ingredients, consumer goods and agri-businesses.
Aurivo said that the lynchpin of its expansion programme will be an extensive upgrade to its dairy ingredients facility in Ballaghaderreen.
The expansion, which is currently, encompasses the creation of a modern state-of-the art production facility that enables innovative new product development and further positions to meet global demand.
Investment thus far has supported Aurivo to increase milk supply by 8% in 2017. A €26 million investment in the installation of a new dryer for the site will commence next month and is critical to the business achieving its ambitious growth plans.
Once completed, capacity at Aurivo’s Dairy Ingredients facility will increase by 50% and will produce over 50,000 tonnes of milk powders and 15,000 tonnes of butter annually on the site.
The investment programme focuses on all areas of Aurivo’s business and includes new Homeland retail store openings in the north west and safety and efficiency related matters across its Livestock Marts business.
Aurivo’s Agribusiness, which manufactures the NUTRIAS brand of animal feed, has experienced several consecutive years of sustained double-digit growth and the expansion and additional capacity at the feed mill, which will meet customer requirements in relation to volume and product choice, is also expected to generate demand for additional skilled workers in manufacturing and ancillary services.
CEO Aaron Forde said: “With our enhanced facilities, Aurivo will compete strongly in serving our existing customers and will also enable us to access new international markets.
“This is all about working to achieve our vision to outperform our peers by becoming leaders in our chosen markets, regionally nationally and internationally.
“One of our key strategic targets is to grow by 25% from a 400m litre milk business to a 500 million one by 2022. That is well within our grasp and our organic growth plans for the business.”
Source: Food & Drink International