Ferrero has opened its first factory in China, located in the industrial district of Hangzhou, near Shanghai.
The new factory, worth USD 300 million, is the company’s 21st production facility around the world. The initial production line will employ 300 people, a figure set to grow to 1,000 within one year.
Ferrero Food Hangzhou will have an important role in providing confectionery products to the local Chinese market, as well as serving the bigger Asian market.
According to Nielsen figures, Ferrero already has a 24% share of the Chinese market, which is higher than in Europe (18%). The first product to come out of the Hangzhou factory will be Kinder Joy chocolate eggs.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.