Ferrero strengthens Russian operations

Ferrero subsidiary Ferrero Russia CJSC has invested RUR 200 m (€5 m) in the Vladimir region, according to local news reports. The company hopes that the new factory will produce up to 25,000 t of chocolate and confectionery products
once facilities are up and running in 2009, the Russian news agency IA Regum wrote. There is a burgeoning local market in the region for Ferrero chocolate brands like Rocher, Kinder chocolates and Nutella. According to market research company Euromonitor, the company is now the largest privately owned chocolate factory in Western Europe, currently holding 8.3 per cent of the market.