Ferrero to invest additional US$47.5M at its plant in Turkey's Aegean province of Manisa to produce more varieties of its Kinder brand chocolates
April 14, 2014
– Italian confectionery group Ferrero is set to boost its investments in Turkey. Commissioned last year, the company’s plant in Turkey’s Aegean province of Manisa will be upgraded to produce more varieties of its Kinder brand chocolates. Ferrero will add TRY 100 million (approx. USD 47.5 million) to its initial investment of TRY 300 million (approx. USD 142.5 million) to expand the plant’s product range.
Speaking to the press at an event focusing on the company’s social responsibility projects, Ferrero Turkey head, Carlo Marsili, said that Ferrero investments in Turkey were to increase. “Manisa plant’s production line will be upgraded to accommodate new products”, Marsili said as he stated the company’s intention to increase its investments in Turkey.
Also present at the event, Ferrero Eastern Mediterranean Regional Director, Renato Danna, said that Turkey represented huge potential for the company. “We have full confidence in Turkey and will continue investing in the Turkish market”, he noted.
Assisted by the Investment Support and Promotion Agency of Turkey (ISPAT) during its investment stages, Ferrero’s Manisa plant is an important part of the company’s strategy to expand its presence in Turkey’s growing domestic market and reach new buyers in North Africa and the Middle East.
The world’s 4th largest manufacturer of confectionery products, Ferrero is a major buyer of Turkish hazelnuts. The country accounts for some 75 percent of the world’s hazelnut production.
For more information please visit: http://www.invest.gov.tr/