Monde Nissin Corp., a leading food conglomerate, has commenced construction on a state-of-the-art production plant in Davao, Mindanao. The new facility, worth P1.2 billion, aims to expand Monde’s bakery and biscuit business.
The factory, scheduled to be operational by February 2024, will add capacity to Monde’s existing manufacturing facility, which is known for producing the popular Lucky Me! instant noodles. In addition to the instant noodles, the plant will include a bakery and biscuits facility that will specialize in the production of brands such as Butter Coconut and Monde Mamon. The company expects the highly automated operations of the new plant to generate 500 new jobs.
Jesse Teo, the Chief Financial Officer of Monde Nissin, stated, “This expansion not only enhances our manufacturing capacity, but also strengthens our network of partner distributors and retailers.”
Romeo Marañon, the head of Monde Nissin’s bakery and biscuits unit, expressed optimism about the expansion, highlighting the potential for providing food products to communities in need during times of disaster relief. He stated, “With the bakery and biscuits expansion, we’ll be able to provide more food products and act as a quick response partner in providing food to communities in need.”
Monde Nissin’s investment in the production plant is in line with its objective of establishing a strong regional and national distribution network. The company aims to broaden access to its diverse product portfolio by working with wholesale distributors, smaller retailers, sari-sari stores, sub-distributors, supermarkets, convenience stores, and groceries.
The company’s strategy also involves sourcing production materials locally, such as eggs and flour. By doing so, Monde aims to manage manufacturing and logistical costs effectively, while also improving product shelf visibility in the Visayas and Mindanao regions.
Monde Nissin is making significant investments in its core Asia Pacific Branded Food and Beverage segments. This move comes as the company restructures its alternative meat business, which has experienced a slowdown. In the first quarter of 2023, Monde reported a net income of P1.94 billion, a 17% decrease compared to the previous year. However, revenues increased by 9.5% to P20.05 billion, despite a 5% decline in gross profit to P6.1 billion.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
