Meiji to boost ice cream production in China
TOKYO, NNA - Meiji Co. will set up a new ice cream plant in Shanghai to boost its production in China, expecting further market growth in the country.
Meiji will increase the capital of Meiji Seika Food Industry (Shanghai) Co. through Meiji China Investment Co. by 650 million yuan ($98 million) to establish the new plant with production scheduled to start during fiscal 2023 ending March 2024, the Tokyo-based company said Friday in a statement.
With the new plant, Meiji's ice cream production capability in China will more than double, according to the statement. It now produces ice cream at Meiji Ice Cream (Guangzhou) Co. mainly for sale in South China
With middle-class customers increasing in China, higher-priced ice cream products have started selling well, a Meiji official told NNA. Positioning China as a focus area among overseas markets, Meiji will seek sustainable growth overseas by expanding its ice cream business in the country, the company said.
Meiji Seika Food was established in 2005 as a wholly owned subsidiary of Meiji China Investment, which is owned 100 percent by Meiji, producing and selling confectioneries such as chocolate and chocolate snacks. (NNA/Kyodo)