Barry Callebaut is to build a chocolate plant in Turkey, a market it says has low per capita consumption of the product but where demand is growing quickly.
The world's largest business-to-business chocolate manaufacturer plans to open the factory for chocolate and compunds in Eskisehir in Turkey's Central Anatolia region in the middle of next year.
CEO Juergen Steinemann said: "The building of a new state of the art chocolate factory in Turkey is another major step in tapping the potential of a rapidly growing region. It's in line with our strategy to further expand our geographic presence to markets that offer above-average growth opportunities."
The CHF15m (US$19.5m) plant will have an initial capacity of 15,000 tonnes and employ around 50 staff.
Citing Euromonitor stats, Barry Callebaut said annual chocolate consumption was "rather low" in Turkey at less than 2kg per capita. However, it said demand is "growing very fast" at a rate of 7% per year.
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Barry Callebaut to build chocolate factory in Turkey
Zurich/Switzerland, October 31, 2012 – Barry Callebaut, the world’s leading manufacturer of high-quality cocoa and chocolate products, announced today the building of a factory for chocolate and compounds in Eskisehir, Turkey. The new facility will serve as a basis to participate in the further growth potential of the Turkish chocolate market as well as to capture opportunities in the regional market.
Situated in Turkey’s Central Anatolia region, the location in Eskisehir is close to existing and potential confectionery customers of Barry Callebaut. The total investment is about CHF 15 million (EUR 12 million / USD 16 million). The new factory will have an initial capacity of 15,000 tonnes and offer about 50 new jobs. Barry Callebaut’s new site in Turkey is scheduled to open mid-2013.
Juergen Steinemann, CEO of Barry Callebaut, said: “The building of a new state of the art chocolate factory in Turkey is another major step in tapping the potential of a rapidly growing region. It’s in line with our strategy to further expand our geographic presence to markets that offer above-average growth opportunities. The new production facility will also help to foster our position in the region.”
To further grow in the Eastern European region, Turkey is an important market for Barry Callebaut. Currently the yearly chocolate consumption is rather low with less than 2 kg per capita; but it is growing very fast at an annual rate of +7% per annum.[1] There is an increasing demand for high-quality chocolate and compound products as well as for technical services and new innovations.
Original source: Barry Callebaut
