Davis Polk is advising Synutra International, Inc. in connection with a long-term industrial and commercial partnership agreement with Groupe Sodiaal SA and Eurosérum SAS, a subsidiary of Sodiaal, pursuant to which Synutra will build a new drying facility in Brittany (France), intended to manufacture powdered milk and fat-enriched demineralized whey for the needs of the Synutra group. This new drying facility, which is anticipated to cost approximately €90 million ($118 million) to build, is expected to be commissioned by year-end 2014 and to employ approximately 75-100 employees. Upon commissioning of the drying facility, Eurosérum and Sodiaal will supply the facility with demineralized liquid whey and milk.
The operational commissioning of the drying facility is subject to full government approval in China.
Synutra is a Nasdaq–listed infant formula company in China and a producer, marketer and seller of nutritional products for infants, children and adults. Sodiaal is a dairy cooperative in France and Eurosérum is a producer of demineralized whey powders.
The Davis Polk corporate team includes partners Arnaud Pérès and Howard Zhang, counsel Jean Weng and associates Hadrien Schlumberger and Daying Zhang. Members of the Davis Polk team are based in the Paris, Beijing and New York offices.
