Food firm embarks on growth despite strengthening economy
Listed food manufacturer Monde Nissin Corp. is expanding more manufacturing lines in its Malvar, Batangas plant, depending on the improved economic prospects in the Philippines.
In a conference Thursday, chief financial officer Jesse Teo said the business planned PHP2 billion to construct new production lines as it seeks to improve the plant’s productivity and grow to more categories.
“The objective is to make the Malvar facility a multi-category plant… We have huge plans. It will add immediately roughly 5 to 10 percent additional capacity for us but there’ll become more as the months go by as we are putting more lines there,” he said.
The newly constructed factory in Southern Luzon began its business in September this year producing Monde Nissin’s noodle products.
Teo said about five or more lines will be added to the Malvar plant.
Meanwhile, the corporation 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 crucial route it is trying to explore.