Dairygold targets loyalty bonus

Members of Dairygold Co-op contributing to the capital costs of dairy expansion can expect to enter some form of tax-friendly deferred loyalty bonus scheme.

The Cork-based co-op, which yesterday unveiled €22.6m operating profits for 2011 (see Business pages, main paper), plans to submit a planning application this summer for two separate driers capable of drying 15 tons of milk per hour — 7.5 tons per drier — at its Mallow site, handling 15 million litres of milk per week.

Dairygold supplier surveys indicate that milk production within the Society’s catchment area will increase by over 60%, from 2011 to 2020. While Dairygold has discussed shared ‘super co-op’ proposals for the post-2015 era with other milk processors, the Co-op board is happy it can meet its members’ needs until 2020 by “sweating” its three existing facilities.