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Ferrero to modernize French factory in $42m project

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By Oliver Nieburg+

Last updated on 02-Feb-2017 at 15:34 GMT2017-02-02T15:34:31Z

Ferrero France posted revenues of $1.3bn in 2016. ©iStock/Zoha Nve
Ferrero France posted revenues of $1.3bn in 2016. ©iStock/Zoha Nve

Ferrero France has announced plans to upgrade its plant in Villers-Ecalles in a project to be completed by 2021.

The company has been in the French market for 60 years and last year posted €1.24bn ($1.3bn) in revenues for its French business.

Villers-Ecalles upgrade

The Villers-Ecalles plant was established in 1960 as the company’s first ever Nutella factory. It is the group’s only factory in the French market.

Ferrero has 22 factories worldwide including the French plant, according to its latest CSR report.

The company has 1,346 employees in France, which accounts for roughly 4% of the group’s s global workforce.

It says it has already invested around €55m ($59m) in its French business in the last five years.

‘Modernizing our industrial equipment’

Now the group will invest €38.5m ($42m) to construct a new 6,500 m² storage facility and to upgrade equipment in its Villers-Ecalles factory.

Michel Etcheberrigaray, general manager of the Ferrero France plant in Villers-Ecalles said: "This major investment…is excellent news for the development of our business and the local anchoring in Normandy, to which Ferrero France is very attached.

“We are modernizing our industrial equipment to adapt to the challenges of tomorrow.” [French translation]

The French market

Ferrero led the French chocolate confectionery market with a 23% value share in 2016, according to Euromonitor International.

The market research firm is forecasting a 1% compound annual growth rate (CAGR) in retail value sales for the market over the next five years.

Although the domestic chocolate market is mature, French consumers are prepared to pay more for added value products, it says.

1 comment (Comments are now closed)

spend spend spend

Does it look to you like this company needed a $1.5M grant from the Ontario government in Canada? me neither

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Posted by jack
10 February 2017 | 20h262017-02-10T20:26:46Z

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