China’s love for Choco Pie spurs Orion to growthOrion Corp., Korea’s second-largest confectionery company, will expand its production facilities in China to meet growing demand there, company officials said yesterday.
China now accounts for more than 80 percent of the company’s overseas sales, thanks to the robust growth of confectionery sales in the world’s No. 2 economy.
The company, best-known for its hallmark “Choco Pie,” will increase its production lines in China from the current 46 to 150 by 2015.
Of that 150, 70 will be located in Beijing, Shanghai and Guangzhou, 50 in the northeastern city of Shenyang and 30 in the western city Sichuan.
The expansion is expected to increase the company’s production capacity in China by about 25 percent by 2016, Orion officials said. Pan Orion Corp., the Chinese subsidiary of Orion, expects sales to reach 4.7 billion ($741 million) yuan next year, up 25 percent from this year’s estimate of 3.76 billion yuan.
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