Dairygold to Invest €130 Million in Capacity Expansion
Irish dairy co-operative Dairygold is preparing to invest Eur130 million in its processing facilities in Malow, Mitchelstown and Mogeely. The move is in preparation for the ending of milk quotas in 2015 which offers Dairygold its first real opportunity in more than 30 year for substantial dairy growth.
Dairygold currently processes about 960 million litres of milk annually (equivalent to 18% of the Irish milk pool) from its 3,000 dairy suppliers. The planned capacity expansion would allow Dairygold to process an extra 23 million litres of milk per week, in addition to its current peak of 30 million litres per week.
According to chief executive Jim Woulfe, the Dairygold team is excited about the opportunities and confident about the company`s ability to process and market up to 50% increase in milk production by 2020.
