Saturday 25 May 2013
Guanajuato.- Due to the competitive advantages offered by Mexico, Ferrero Group will invest US$200 million in a chocolate production plant in Mexico, in order to serve the domestic market, in addition to markets in the United States, Central America and the Caribbean.Pietro Paolo Cornero, CEO in Mexico, said that this complex is part of their 5-year plan, which forecasts 20% growth, to reach invoicing for US$385 million.
The investment will increase candy and chocolate production by this firm in 35,000 tons, the Ministry of the Economy said.
According to the company, from total production in this plant, 60% will supply markets in Mexico, Central America and the Caribbean, while the remaining 40% will be shipped to the United States and Canada.
The company further said that they expect to have the four production lines in their complex located in San Jose de Iturbide municipality working at full capacity by May 2013.
The plant will employ 500 people, who will join the 600 operators Ferrero Group currently has in Mexico, expected to reach 1,500 in coming years.
Source: Agencias
| MORE NEWS |
