FOOD giant Nestle says it will invest CHF100
million (US$103.58 million) on
expanding its manufacturing footprint in China to include a new plant-based
food facility and widen its production lines.
The company's first plant-based
food facility for Asia it to be built in Tianjin
Economic-Technological Development Area (TEDA) and that it could launch faux meat products by the
end of this year.
Chinese consumers have been
steadily shifting to plant-based diets over the past few years, in part due to
a devastating pig disease and bruising China-US trade war driving up meat
prices. And now with the coronavirus crisis, several consumers are also
rethinking their diets, according to Reuters.
The company, which has 31
production sites in China, also said it would increase annual production
capacity of a local biscuit wafer plant. The Nescafe coffee maker said the
investment in TEDA would also include a significant capacity expansion of
Nestle's existing Purina pet food plant, with new production lines offering
consumers premium veterinary diet and wet cat food products.
Source : HKSG / Photo : Deccan Herald.
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