Jul. 19, 2012 (China Knowledge) - U.S. Food giant Kraft Foods Inc announced that two of its new production lines with a total investment of US$20 million began operation in its Beijing
plant in July 17.
Kraft's Beijing plant is mainly engaged in the manufacture of biscuit including Oreo and Ritz, exporting part of its products to overseas market such as Australia, New Zealand and South Korea. Now the plant becomes Kraft's largest production base for Oreo biscuit and Choclair, said the U.S. food giant.
China is one of the fastest growing market for Kraft and in 2011, the company saw its sales in the country increase 35% YoY, of which, the biscuit business surged 40% from a year earlier, much higher than 8% of its average global growth, said Shawn Warren, President of Kraft Foods China.
From July 23, 2012, Kraft Foods Inc will replace China based Ctrip.com to become a component of the NASDAQ-100 Index, source reported.