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Food giant Hwaseong plans to invest $ 2 billion by the end of 2026. It expands its US manufacturing ability and promotes product innovation.
The first manufacturers of M & M, SNICKERS and Ben said that investments will increase production in the United States, and 94%of Hwaseong products sold will be manufactured locally. Hwaseong has previously spent $ 6 billion to expand its manufacturing footprints over the past five years.
MARS’s CFO, CLAUS AAGAARD, said in a statement, “This investment is to build a more powerful and elastic business in the United States.” The United States is our largest and most important market and the main engine of growth in the long run. “
Virginia -based Mars is the best known as a candy and confectionery business, but there are also a big deal in pet feeds and snack bars, including Nature ‘S Bakery, which was acquired in 2020. Kellanova, a snack giant, is purchased for almost $ 36 billionTrading CHEEZ-IT, Pringles, Eggo and POP-TARTS to a huge portfolio.
The decision of Mars, which decided to invest billions of billions of dollars in US production and innovation, will help to meet the demand, innovate existing products, as well as to add new products.
MARS pointed out that $ 2 billion in investment included $ 240 million in Utah’s Nature ‘S Bakery, which will open on Wednesday. The plant will create more than 230 new jobs and expand the brand’s capacity in this area with the ability to produce about 1 billion Billions every year.
Nature ‘s bakery was a bright place of Mars. The company said it was healthier in November. Soft Baked Snack Bar The volume has increased by 30% In the previous year, the snack bar category will be abandoned.
