July 29 (Reuters) - Candy and snacks giant Mars on Tuesday announced plans to invest $2 billion more in its U.S. operations through next year to bolster the company's ongoing efforts to expand manufacturing in the country.
The Twix and MilkyWay chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature's Bakery in Salt Lake City, Utah.
The new facility, opening on Wednesday, will create over 230 new jobs in the region and have the capacity to produce about one billion candy bars every year, Mars said.
"The U.S. is our biggest and most important market, and a key engine of growth for the long term – not only through our legacy manufacturing footprint but also through the expansion of strategic acquisitions like Nature's Bakery, which is already scaling quickly," said Mars CFO Claus Aagaard.
Many companies are doubling down on their U.S. production capabilities after the Trump administration imposed sweeping import tariffs aimed at narrowing the trade deficit and prompting multinational firms to bring manufacturing back to America.
About 94% of Mars products sold in the U.S. are produced locally.
The company announced a $36 billion deal to buy Pringles maker Kellanova K.N in August, and has received approval from U.S. antitrust regulators while EU counterparts opened a full-scale investigation last month.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Devika Syamnath)
((AnujaBharat.Mistry@thomsonreuters.com;))
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。