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BELGRADE (Serbia), April 19 (SeeNews) - Swiss-based cocoa and chocolate products manufacturer Barry Callebaut plans to invest 50 million euro ($56.2 million) in the construction of a chocolate factory in Novi Sad, in northern Serbia, the Serbian economy ministry said.
Barry Callebaut has signed a memorandum of understanding (MoU) with the Serbian economy ministry on the construction of the factory in which it intends to open 100 jobs, the economy ministry said in an e-mailed statement on Thursday.
The new production facility, expected to be operational by 2021, will be the first chocolate factory of Barry Callebaut in Southeastern Europe and is planned to have an initial production capacity of over 50,000 tonnes per year, Barry Callebaut said in a separate statement.
"With the new factory in Novi Sad, in line with our ‘smart growth’ strategy, we will be able to expand our footprint in the region and supply current as well as new customers with a wide range of chocolate, compound and filling products. The factory will serve as a regional hub from which Barry Callebaut can address the rapidly growing chocolate markets of Southeastern Europe," CEO Antoine de Saint-Affrique said.
The Zurich-headquartered company also aims to establish a research and development centre in Serbia, the country's economy ministry said.
Barry Callebaut supplies its products to some of the leading global confectioners like Nestle and Mondelez. The company runs about 60 production facilities worldwide and employs a global workforce of more than 11,500 people.
($ = 0.8894 euro)