Food ingredients and consumer foods giant Kerry Group is committed to expansion in the Asia-Pacific region, according to the company’s managing director Denis Brosnan.

The company has recently completed a new regional head office and R&D site in Sydney at the cost of A$6.5m. It has also spent A$20, and A$10m on upgrading processing plants in Brisbane and Altona respectively and promised an investment package worth A$20m in local capital equipment, with a view to introducing more of the group’s technology into Australia.

In a statement released to coincide with the opening the Brisbane plant, Brosnan insisted that Kerry is keen to “significantly increase its asset base in the Asia-Pacific region. Our goal is to expand our ingredients business in this region to US$500 million by 2005 through acquisitions of established processors and the establishment of new greenfield facilities.”

President of Kerry Australia, Alex Awramenko, added that the company is expecting “significant growth” in 2001; in the poultry and food processing markets, the baking sector and in fastfood restaurants.