Listed food manufacturer Monde Nissin Corp. is adding more manufacturing lines in its Malvar, Batangas plant, banking on the improving economic conditions in the country.
In a briefing Thursday, chief financial officer Jesse Teo said the company earmarked PHP2 billion to add more production lines as it plans to boost the plant’s output and expansion to more categories.
“The plan is to make the Malvar facility a multi-category plant… We have ambitious plans. It will add immediately about 5 to 10 percent more capacity for us but there’ll become more as the months go by as we are installing more lines there,” he said.
The newly constructed facility in Southern Luzon commenced its operation in September this year producing Monde Nissin’s noodle products.
Teo said about five or more lines will be added in the Malvar plant.
Meanwhile, the company is also positioning itself in the country’s meat alternatives market as it brings back the Quorn brand here.
“As economic conditions improve, I believe this will become more and more relevant for more and more Filipinos, and we need to be there,” he said, adding that digital is a key channel it is looking to explore.
Source: Philippines News Agency
