Nestlé Aims For Growth In Saudi Arabia
News: Switzerland-based food company Nestlé's has launched a plant in Turkey to manufacture Maggi bouillon products for the Saudi Arabian market. The food company has invested CHF9.9mn (US$10.9mn) in a cereal plant in the Turkish town of Karacabey and has created about 100 jobs. The group manufacturing units will use the latest technology to manufacture 1,200 Maggi packages a minute, producing a total of 7,300 tonnes of bouillon annually from 2014. Turkey is one of the fastest growing and most dynamic markets in Asia, Oceania and Africa, according to Nestlé executive VP Nandu Nandkishore.
BMI View: Nestlé's strategy for achieving growth in the Turkish market has been to steadily increase its product range along with aggressive marketing and advertising campaigns. It now has more than 400 products and more than 40 brands in Turkey, spanning 11 product categories. Having established a strong brand name and reputation in Turkey with its chocolate and baby food products, the company then moved to strengthen its presence in a number of other product subcategories, including 'nutrition' products and bottled water.