SUZHOU, China, June 13, 2013 /PRNewswire/ -- Kraft Foods (Suzhou) Co. Ltd., part of the Mondelez International family of companies, today hosted a groundbreaking ceremony for the expansion of its biscuit plant in Suzhou, China. With a total investment of approximately $85 million, the project spans 30,000 square meters (more than 98,000 square feet) and is expected to be completed in August 2014.
The project will more than double the plant's current capacity and create 340 new jobs. The Suzhou plant will feature state-of-the-art production lines to make Oreo and Chips Ahoy! biscuits to meet the growing demand from Chinese consumers. This project is consistent with the company's previously announced strategy to invest in emerging markets to drive sustainable, profitable growth ( http://bit.ly/13inaS5)."We deeply appreciate the Suzhou government's help and support for Kraft Foods China and this project," said Shawn Warren, President of Kraft Foods China. "Since the introduction of Oreo and Chips Ahoy! to China in 1996, the country has become our second-largest market for these brands globally, after the United States, due to our consistent focus on quality, innovation and marketing. After this project is completed, the expanded plant will be a model in our global supply chain network." "The Kraft Foods' Suzhou plant has set examples in the Suzhou Industrial Park in terms of production efficiency, energy savings, emissions reductions and community involvement," said Madam Sun YanYan, Vice Chairman of the Suzhou Industrial Park Administrative Committee. "We're pleased to see that this project will further drive the development of the local economy." Mondelez International currently operates two manufacturing plants and a regional biscuit research and development center in Suzhou.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV