BIZCHINA / Overseas Investment
Kraft to increase investment in China in next decade
(Xinhua)
Updated: 2006-06-23 14:08
US-based Kraft Food plans to increase its investment in China in the next
decade, a senior official of the company has said.
Kraft Food (China) Co. Ltd. President Mark Clouse said China has become
one of Kraft's five most important markets and the company will continue
increasing investment in China in the next 10 years, he told China
Business News recently.
Kraft has invested over 200 million U.S. dollars in China currently, it
is building a biscuit factory in Beijing, which is expected to go into
operation later this year.
The factory will produce brand biscuits such as Oreo and Ritz that are
well known to Chinese customers, and also export biscuits to other
countries.
Kraft, the world's second largest food and beverage corporation after
Nestle, entered the Chinese market in 1984. It claims to sell the most
powdered beverages and biscuits in China.
(For more biz stories, please visit Industry Updates)
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