Aurivo ready for 25% expansion

Aurivo Co-op, formerly Connacht Gold, is to invest €40m to boost its processing capacity, with its milk supply set to rise 25% over the next five years.

Some 98% of the co-op’s 1,000 suppliers have signed up to the co-op’s new three-year supply agreement, their faith buoyed by a 70% rise in operating profits to €8.9m last year, and an average annual milk price of 36.2cpl despite the price collapse in milk markets.

Aurivo produces 350m litres of milk annually, exporting 75% to almost 50 countries. The bulk of its 25% increased milk output will continue to be directed to its existing overseas customers in the form of enriched milk powder.