Confectionery giant Ferrero is to invest US$190m in the construction of a production facility in Mexico.
The President of the Mexican Republic, Felipe Calderon, told attendees at a press conference in Guanajuato last week, that the plant will be constructed at the Parque Opcòn industrial park, in San Josè Iturbide, Guanajuato.
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The facility will manufacture the firm’s Kinder and Nutella products for the local market and for export to North America. Production is expected to begin in May 2013.
Once fully operational, the facility will employ 500 staff, in addition to the 600 already working for Ferrero de Mexico, the company said.
Ferrero entered Mexico in 1992. It currently has 24 distribution centres and six sales offices across the country.
In October last year, Ferrero announced plans to build a production plant in Izmir, Western Turkey in 2013 as part of its plans for growth in the region.
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By GlobalDataThe company said that in the next five years it expects 70% of its growth to come from emerging markets.
