Ferrero Mexico, the local division of the Italian confectionery group is set to invest $86 million through 2027 in its manufacturing facility located in San Jose Iturbide, Guanajuato.
The capital allocation will expand production capacity, upgrade energy infrastructure from medium to high voltage, strengthen logistics networks and increase export volumes. The operational expansion will initially generate roughly 60 direct jobs in Guanajuato and will virtually double the plant’s installed annual production capacity from approximately 35,000t to nearly 70,000t.
According to Ferrero the investment will expand existing production lines for Nutella and Kinder Chocolate while developing new product presentations, including a specialized Nutella format tailored for domestic and US consumers. The firm plans to raise its export share to between 55% and 60% over the next five to six years and diversify into categories where it holds a limited market presence, including biscuits, ice cream, sweets, and cereal bars.
Paolo Cornero, CEO of Ferrero Mexico and Central America, stated: “The Ferrero Group sees that in the next six years Mexico faces the challenge of nearly doubling its level of value. This means moving from about US$627 million today to more than US$1.14 billion in revenue.”
Source: Mexico Business News
