Mondelez International launches 10th research centre in Thane
Chocolate and confectionery firm Mondelez International, that makes Cadbury, Wednesday inaugurated its 10th global research, development and quality technical centre in Thane, which has been set up with an investment of USD 15 million.
The facility is a part of the company's USD 65-million investment in its worldwide technical centre network to accelerate growth and innovation.
The centre will focus on two critical categories for the company - chocolates and beverages - not only in India but around the world.
"This is our 10th technical centre in the world and a critical part of our global R&D network in the future that will support our business into the next phase of growth," Mondelez International chief growth officer Tim Cofer told reporters here.
The other centres around the globe are located in New Jersey in the US; Curitiba in Brazil; Bournville and Reading, both in the UK; Wroclaw in Poland; Singapore; Suzhou in China; Saclay in France and Munich in Germany. Maurizio Brusadelli, executive vice-president and president Asia Middle East Africa (AMEA) Mondelez International said India continues to be an important market for the maker of Tang and Bournvita and the firm will continue to make investments here to drive growth.
He added that this is the third global research, development and quality centre in the AMEA region, with the other two being located at Singapore for gum and candy and China for biscuits.
Mondelez India Foods managing director Deepak Iyer said India is a USD 900-million business for the company and has the highest market share for it globally in the chocolate category with upwards of 65 per cent.
In the cocoa beverages category, its market share in the country is in mid to high teens, he added.
The company is looking to continue evolving its portfolio in the country.
"We have big ambitions of getting into the larger snacking world but that doesn't mean we are going to dilute our focus on chocolate," said Iyer.
He highlighted that the per capita consumption of chocolate in the country is just 100 gms per person at present, compared with most developed nations where it stands at 5-10 kg.
(With inputs from agencies.)