Ferrero increasing its Mexico production by 50%
Grupo Ferrero, the Italian multinational confectionery firm, wants to increase by 50% its production in Mexico over the next five years, thanks to the Research and Development center inaugurated by the company last October in San Jose Iturbide, Guanajuato. The company produces nearly 30,000 tons of chocolates and hazelnut at its plant located in the same municipality, and is now planning for a 15,000 tons increase with this center of innovation, according to reports by the firm. The Research Center had an approximate investment of US$1.85 million, looking to develop local raw materials and even possible new products both for the Mexican and foreign markets. The production from the San Jose Iturbide plant has provided 65% of the Mexican market over the last year, while the rest has been serving other countries in America.