Ferrero company has inaugurated its first plant in China located in Hangzhou, Shanghai province. Present at opening ceremony, along with the main local authorities, was Giovanni Ferrero: “It’s a milestone for us”, he said. The Italian firm has invested 300 million euros in a new production plant wich will help reducing quality issues and cutting costs.
As the fourth largest chocolate maker in the world, Ferrero created its Chinese official distributor in early in 1994 and set up offices in Guangzhou and Shanghai. However the company only started its localization process in China last year. Now Ferrero holds 24 per cent of Chinese market shares. In addition, this 300 million euros investment is the largest ever by an Italian company in China.