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Mondelez to invest Rs 100 crore to set up global research centre in Thane

Economic Times:  September 19, 2016

Mumbai: Mondelez International, the maker of Cadbury chocolates and Bournvita, will invest $15 million (about Rs 100 crore) to set up a global research, development and quality hub on the outskirts of Mumbai, according to a top executive of the company.

Rob Hargrove, executive vice-president for research, development & quality (RDQ) at Mondelez, said the proposed technical centre in Thane will focus on chocolates. It will be part of the American food giant's plan to invest $65 million to develop nine global RDQ locations over the next two years.

Mondelez plans to have an RDQ centre in China for biscuits and one in Singapore for gum and candy. "We've a long, strong history in India and it's a priority market for us. We've had tremendous success in getting the 'best of global, best of local' formula right in India to accelerate our growth momentum in India and throughout Asia with continuous innovation," Hargrove said.

This is Mondelez International's second large investment in the country, the first being a $190 million (about Rs 1,270 crore) investment in a greenfield plant in Andhra Pradesh which began operations in April this year.

"For the past two years, we've been transforming and redesigning our global RDQ organisation to better support our growth ambitions and create a competitive advantage," Hargrove said.

In a departure from the past, the India centre will also service global markets for the company. The centre will employ over 150 scientists, engineers and other specialists who will focus on developing technology platforms for chocolates and beverages, consumer science, packaging and cross-category productivity, the company said.

"These hubs will enable improved efficiency, effectiveness and accelerated project delivery," Hargrove said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation