Kraft Foods invests $20.5 million in Beijing
Updated: 2012-07-19 15:47
The world's snack powerhouse Kraft Foods Inc opened two production lines in its Beijing factory on July 17, an investment worth $20.5 million, announced Kraft on its website.
The Beijing-based factory is Kraft's biggest production base around the world to produce Oreo cookies and its sugar brand Eclair. The factory mainly produces biscuits to meet China's increasing demand and to export to countries including Australia, New Zealand and South Korea.
Kraft's first-quarter earnings showed that its world sales rose 4 percent to $13.1 billion and China was one of the highest growth markets. In 2011, Kraft saw a 35 percent rise in the Chinese market where biscuits sales contributed 40 percent increase.