Publicly-listed Monde Nissin Corp. on Tuesday broke ground at its P1.2 billion Davao plant expansion project that includes facilities for its biscuit and bread brands.
The expansion is consistent with its mission to boost food security, accessibility and sustainability in Filipino communities, the company said.
“We at Monde Nissin are reaffirming our commitment to a future of inclusive growth and investment in the local economy,” company chief finance officer, Jesse Teo, said.
The expanded plant is seen creating 500 jobs and contribute to its bottom line by February next year, in time for its 45th anniversary.
The company also looks to find local sources of production materials such as eggs and flour.
Aside from managing manufacturing and logistical costs, the bakery and biscuits plant is seen to shorten inventory cycles and improve product shelf visibility in the Visayas and Mindanao.
With the expansion, Monde Nissin envisions widening its regional and national distribution networks, leveraging on its market leadership in the food and beverage industry.
Nationwide, Monde Nissin sales of branded food and beverage products increased by 15 percent in the first quarter, driven by growth across all categories.
