(Reuters) – French dairy cooperative Sodiaal said on Tuesday it would close two production sites, cut 316 jobs and invest 600 million euros ($675 million) over five years as part of a wide restructuring plan due to overcapacity. Sodiaal, the third largest dairy cooperative in Europe, which owns brands such as infant milk Candia, is suffering from a sharp drop in babymilk sales worldwide, particularly in China, and lower milk consumption in France despite a rebound during the pandemic lockdown, it said. The new investments would be split between 450 million euros on cheeses, premium milks, butt…