Amsterdam - The Dutch Schiphol Group and French aviation company Aeroports de Paris (ADP) have signed a cooperation agreement, which includes cross-investment of 8 per cent, the parties announced on Tuesday.

Schiphol is investing 530 million euros (711 million dollars) in ADP while ADP is investing 370 million euros in Schiphol. The top managers of the two companies will take seats on each others' managing boards.

Schiphol, which operates Amsterdam's Schiphol airport, said the cooperation will strengthen the position of both companies.

"This cooperation agreement gives ADP and Schiphol Group an advantage compared to other airports," Gerlach Cerfontaine, president of the Schiphol Group board, said.

The share in ADP which Schiphol purchased was taken over from the French government, also the main shareholder of Parisian airports Charles de Gaulle, Orly and Le Bourget.

The cooperation is expected to generate 71 million euros in revenues by 2013. (dpa)