An Indonesian subsidiary of US snack and petfood maker Mars Inc. has devoted US$20m to investment in the manufacture of sugar confectionery at its new plant in North Sumatra.
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According to an article in the Jakarta Post, the subsidiary, PT Effem Indonesia, is aiming to take a 1.5% share of the Indonesian sugar confectionery market during the first year of the new plant’s operation. President Noel D. Janetski commented: “We’re confident that we’ll be successful in running our new business as we know Indonesia and its people well.”
The plant is aiming for sales worth US$5m next year, rising to US$10m per year by the end of three years.
It is in Mars’ interest to raise its share in a dynamic market. The Indonesian sugar confectionery sector was valued at US$319m last year but is dominated by popular local brands.
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By GlobalData
