Gruma, the Mexico-based food manufacturer, is to set up a new factory in the US.
The company is to establish a facility to make tortillas in Indiana. Gruma’s Mission Foods arm already runs 19 other plants in the US, employing around 6,900 staff.
Gruma plans to lease, build-out and equip a 510,965 sq ft manufacturing site in Plainfield, 15 miles west of Indianapolis. The new facility is expected to start operations “in early 2021” and be fully up and running in 2024. The plant will manufacture products including corn tortillas, flour tortillas, tortilla chips and flatbreads.
Indiana state will offer Gruma up to US$4.75m in conditional tax credits based on the company’s job creation and investment plans.
Earlier this month, Gruma reported a 25% rise in second-quarter net sales and a 27% jump in EBITDA, pointing to its businesses outside Mexico and “primarily” the US. Sales volumes in the US rose 5%, with volumes of tortillas 6% higher, driven by elevated demand through the retail channel.
Gruma’s second-quarter net sales reached MXN24.15bn (US$1.1bn), contributing to EBITDA of MXN4.02bn. The company’s second-quarter majority net income was MXN1.75bn, 38% higher than in the corresponding period a year earlier.