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Showing posts with label Lotte group. Show all posts
Showing posts with label Lotte group. Show all posts
Lotte India Corporation To Produce Choco Pie In India
Choco Pie s have become popular among kids here in India . These are sourced from countries like Malaysia , Thailand , Singapore or Hongkong .
South Korean snacks manufacturer Lotte Confectionery has started to manufacture its Choco Pie biscuit brand at a newly-completed plant in Chennai, southern India. A Lotte spokesman said the company wanted to boost Indian production of Choco Pie, which, he claimed was popular locally, for its convenience.
Instead of having a big meal, several pieces of Choco Pies can make your stomach full, he said. Choco Pie will dominate production at the plant but the facility will produce other snacks and sweets later, the spokesman said. Operated by Lotte India Corp., also located in Chennai, the plant has a planned 6,000 tonnes annual capacity.
The plant cost
about US$70m to build and is currently focusing on the Indian market. However, in future, it could supply the Middle East and Africa, the spokesman added. Seoul-based Lotte Confectionery, a subsidiary of the Lotte Group, entered India through exports before acquiring Indian confectionery company Parrys in 2004. Through years of retailing businesses in India, we found out that the nation holds a market with huge potential to Lotte, the spokesman said.
Lotte India Corporation Limited, a subsidiary of South Korean multinational giant Lotte Confectionery Limited, on Wednesday inaugurated a new facility at Nemam village near here. The company has invested around $70 million (around Rs 322 crore) in the facility.
Lotte groups vice chairman Dong Bin Shin said that the new plant has a capacity of 1.8 lakh cartons of Lotte chocopie which would be exported to Middle East and African nations, besides catering to the domestic market. The plant was manufacturing candies and currently has a market share of around 10 percent in the country and 20 percent in the southern states. This facility will enable the company to capture five per cent of market share in biscuits by next year, said Shin.
Major competition for choco pie would come from Malaysian brand from Cocoaland Industry SDN and Orion
Major South East Asian Bakery Manufacturers
South Korean snacks manufacturer Lotte Confectionery has started to manufacture its Choco Pie biscuit brand at a newly-completed plant in Chennai, southern India. A Lotte spokesman said the company wanted to boost Indian production of Choco Pie, which, he claimed was popular locally, for its convenience.
Instead of having a big meal, several pieces of Choco Pies can make your stomach full, he said. Choco Pie will dominate production at the plant but the facility will produce other snacks and sweets later, the spokesman said. Operated by Lotte India Corp., also located in Chennai, the plant has a planned 6,000 tonnes annual capacity.The plant cost
about US$70m to build and is currently focusing on the Indian market. However, in future, it could supply the Middle East and Africa, the spokesman added. Seoul-based Lotte Confectionery, a subsidiary of the Lotte Group, entered India through exports before acquiring Indian confectionery company Parrys in 2004. Through years of retailing businesses in India, we found out that the nation holds a market with huge potential to Lotte, the spokesman said.Lotte India Corporation Limited, a subsidiary of South Korean multinational giant Lotte Confectionery Limited, on Wednesday inaugurated a new facility at Nemam village near here. The company has invested around $70 million (around Rs 322 crore) in the facility.
Lotte groups vice chairman Dong Bin Shin said that the new plant has a capacity of 1.8 lakh cartons of Lotte chocopie which would be exported to Middle East and African nations, besides catering to the domestic market. The plant was manufacturing candies and currently has a market share of around 10 percent in the country and 20 percent in the southern states. This facility will enable the company to capture five per cent of market share in biscuits by next year, said Shin.
Major competition for choco pie would come from Malaysian brand from Cocoaland Industry SDN and Orion
Major South East Asian Bakery Manufacturers
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