German food group Dr Oetker is building its first plant in China to produce microwaveable pizza for local consumers.

The company, which reported its 2010 revenue figures yesterday (5 April), is constructing a facility near Shanghai, a spokesperson confirmed.

The spokesperson refused to confirm the exact amount of money that Dr Oetker is investing but said the company's expenditure was in the "low double-digits in millions".

Dr Oetker has stated its plan to build its manufacturing base in "key" overseas markets in order to cancel out the effect of currency fluctuations.

To that end, the company snapped up Simplot's pizza business in Australia and New Zealand in January and is in the process of expanding its production footprint in India. The spokesperson described China as a "market of the future".