Hershey to invest $250 mln in Malaysia

Reuters

Oct 4 (Reuters) - Hershey Co, North America'sbiggest chocolate maker, said it would invest $250 million tobuild a manufacturing plant in Malaysia, its biggest investmentin Asia.

The plant in Johor, near Singapore, will be constructed byearly 2015 and will produce Hershey's Kisses, Ice Breakers,Reese's and Milk Chocolate bars.

The company, which plans to focus on the fast-growing marketof China, said it expects international sales of about $1billion by the end of 2014.

Last year, the company had forecast international sales tobe 15 percent, or about $975 million, of 2012 sales of about$6.5 billion. ()

It is targeting $10 billion in annual revenue by 2017.

"We are investing heavily in the region as the middle classcontinues to grow and consumers increasingly want chocolate andnew confectionery products," Peter Smit, senior vice presidentfor Asia, Europe, Middle East and Africa, said in a statement onFriday.

The company has nine plants in the United States as well asfacilities in Canada, Mexico, India, Brazil and China.

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