Kraft to build one of the largest foreign F&B manufacturing plants in the GCC region
Kraft Foods Inc. (NYSE:KFT), a global leader in branded foods and beverages, has announced that it will construct a state-of-the-art USD40 million cheese and powdered beverages manufacturing plant in the Bahrain International Investment Park. The announcement was made at a press conference held at the Bahrain Ministry of Industry and Commerce.
Kraft Foods is due to start construction of the 60,000 sqm, high tech plant in September, 2006 and completion is planned for October, 2007. The new factory which is the first direct investment by Kraft Foods in the region, has already gained approval of the Bahrain Ministry of Industry and Commerce and will be one of the largest Food and beverages manufacturing plants owned by a multinational company in the GCC region. Once operational, the plant will employ 250 people and will produce cheese and powered beverages for export to the entire Middle East region.
The Middle East is an important market for Kraft Foods, which has been distributing products in the region for more than 50 years.
Patrick Satamian, Managing Director, Kraft Foods, GCC said. “We are delighted to be significantly expanding our presence in the region, this investment emphasises Kraft’s desire to accelerate growth in the Middle East and to focus behind our core categories so we can better meet the needs of both our customers and consumers. Bahrain is ideally suited to our needs, being located within the GCC and offering a stable political environment and attractive investment climate. “
Kraft Foods (NYSE : KFT) the world’s leading cheese manufacturer and the second-largest food and beverage (F&B) company, with net revenues of more than USD 34 billion in 2005. For more than 100 years, we’ve been dedicated to helping people around the world eat and live better. Hundreds of millions of times a day, in more than 155 countries, consumers reach for their favourite Kraft brands including Kraft cheeses and dinners and Maxwell House coffees, Oscar Mayer meats, Oreo cookies, Ritz, Philadelphia cream cheese, Milka and Côte d’Or chocolates, and Tang refreshment beverages.
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