Tetra Pak has announced that it has completed a €42m site expansion in Singapore
The firm has also announced that it has inaugurated its Coconut Knowledge Centre in the country and invested in state-of-the-art equipment and new facilities.
In a statement, Tetra Pak said that the investment is designed to meet customer needs across the growing Southeast Asian market and to improve the company's competitiveness in other parts of the world.
"The Coconut Knowledge Centre's objective is to build market and technology expertise that will extend our leadership in coconut beverage innovation. This will be very important for our customers in the region who are growing their local markets and expanding sales abroad, particularly in the US," said Rusty Kekuewa, Tetra Pak vice president, South and Southeast Asia.
US demand
According to the company, coconut water is a popular beverage in Asian countries but has generated increasing interest and sales in developed countries in recent years as a sports and health drink.
Global coconut water consumption is expected to increase, driven mostly by the United States. Volume sales of coconut water in Tetra Pak packages have grown by an average of 26% annually from 2007 to 2011.
Three of the world's largest producers of coconuts are located in South and Southeast Asia – Indonesia, India and the Philippines – accounting for over 75% of total world production, according to the UN's Food and Agriculture Organization.
The Coconut Knowledge Centre will provide technology and innovation support to customers; build knowledge of coconut products such as water, milk and cream; develop new recipes and expand knowledge sharing amongst its international network of coconut experts.
Kit investment
Tetra Pak also announced the completion of a €42 million investment in its Singapore operations that took place over the course of three years. The investment included a new printer installation and a laminator upgrade in its packaging material factory that will boost production capacity by 33% from 15 billion to 20 billion packs per year. It also included new facilities for staff and customers.
"Demand for food processing and packaging solutions in this region has been on the rise, and looks set to continue to climb over the next decade," said Kekuewa. He noted that demand for Tetra Pak packages in the region is forecast to nearly double from 2012 to 2020.
"Tetra Pak continues to invest to deliver on innovation and quality to our customers in the region and around the world," said Kekuewa.
