Belgian bakery ingredients firm Puratos has announced a series of investments across its global operations, including a new production facility in China.
The company plans to build a new EUR22m (US$29.4m) plant at its existing site in Guangzhou. It will produce fruit fillings, icing, glazes and creams.
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Next year, Puratos also plans to open a new production line in Russia, two innovation centres in Spain and Japan and new plants in Spain in Mexico.
Puratos CEO Daniel Malcorps said: “We are positive that these investments, combined with the trust of our global customers, stakeholders and employees will help us to achieve our growth targets: EUR2bn by 2018 and EUR5bn by 2030.”
The first phase of the Chinese project is expected to completed by April, the company said.
The announcement on Wednesday (7 December) came as Puratos issued its estimated financial results for 2011. It expects organic sales to grow by around 11%.
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