Ferrero plans a new production facility in India

Italian confectionery company Ferrero plans via subsidiary Imsofer Manufacturing India Pvt Ltd to establish a new production facility near Indapur in Maharashtra, India. According to local press reports, Ferrero will start work on the new plant in mid-2008 with a view to begin manufacturing operations in mid-2009. By 2011, the facility is expected to have a workforce of 500. The initial cost of the project is estimated at approximately USD 35 million. The reports go on to say that Ferrero will start by manufacturing mouth fresheners, such as its “Tic Tac” range, rather than its premium chocolates. Meanwhile, production has already started on a small scale at a leased facility located in Baramati, near Pune. Ferrero will be entering a booming confectionery market with an annual growth rate of 8% until 2011.