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Thread: Hershey's to invest in Johor plant

  1. #1
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    Default Hershey's to invest in Johor plant

    [B][SIZE="3"]Hershey's to invest in Johor plant[/SIZE]
    It will enable firm to meet demand from Asia, the Mid-East[/B]
    Published October 07, 2013

    [KUALA LUMPUR] Hershey's, the largest chocolate producer in North America and well-known for its "Kisses" range, is to invest US$250 million in a confectionery plant in Johor, a senior company official has announced.

    The state-of-the-art plant, which will feature the latest confectionery manufacturing technology, will enable the company to meet the demands of chocolate lovers in Asia and the Middle East, according to Malaysia's Business Times.

    Terence O'Day, the senior vice-president and chief supply chain officer for the Pennsylvania-based chocolate giant, said that most of the products from the Johor facility will be for the export market.

    "It will be an important distribution centre for 25 markets across the region," he said at a media briefing, here, yesterday.

    The ground-breaking of the 700,000 sq ft plant, which will be part of the Senai Airport City, will be held in the next few weeks. It is expected to be fully operational by late 2015 or early 2016.

    The plant, which will incorporate innovations in automated candy-making technology, including proprietary equipment and systems, will produce four of Hershey's five global brands, which are Hershey's Kisses, Ice Breakers, Reese's and Hershey's Milk Chocolate bars.

    Peter Smit, senior vice-president for markets outside the US (Asia, Europe, Middle East and Africa), said that its investments will remain big in the region due to the fast-expanding middle-income bracket and demand for chocolate and new confectionery products.

    "We are forecasting sales to grow by US$200 to US$300 million annually in three years."

    Mr Smit said that the region is set to achieve US$1 billion in sales by end-2014 as the confectionery growth outlook is robust, significantly outpacing the US market.

    The more than 100-year-old company aims to grow its business in the region from 10 to 30 per cent by 2018.

    Malaysia now forms 3 to 4 per cent of its market share, while China is seen as an important market and will become Hershey's second-largest market worldwide.

    Malaysian Investment Development Authority chief executive officer Noharuddin Nordin said that with Malaysia exporting 90 per cent of the output, it augurs well in terms of exports.

    The country is projected to export RM15 billion (S$5.88 billion) worth of confectionery products over the next two decades.

    [url]http://www.businesstimes.com.sg/premium/malaysia/hersheys-invest-johor-plant-20131007[/url]

  2. #2
    Junior

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    Cocoa smell is not that bad. Much better than palm oil processing plant.

  3. #3
    ipropertyguru

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    Quote Originally Posted by indomie View Post
    Cocoa smell is not that bad. Much better than palm oil processing plant.
    Like boon lay there?

  4. #4
    Junior

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    Quote Originally Posted by leesg123 View Post
    Like boon lay there?

    According to hynergix, more MNC are setting up shop near Senai. Glad I bought zone A, in the middle of all the zones, according to my agent , a lot of people who work in Pasir Gudang like to rent austin Heights. So far have a Japanese, a Korean and a German interested to view my place. So the demand is not bad and the supply is limited as most buy for own stay there.

  5. #5
    Junior

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    austin is nice area for locals.

  6. #6
    Senior

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    Austin has the benefit of being near a lot of the developed estates that came up in the last 20 years, so amenities nearby is plentiful.

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