Kraft Taps Deeper Into Asian Markets With Singapore Regional Headquarters
Singapore – Kraft Foods announced today that the Economic Development Board (EDB) has conferred the International Headquarters Award on its Singapore operations. Singapore is the Asia-Pacific headquarters for Kraft Foods, the second largest food and beverage company in the world with net revenues of US$34 billion in 2005.
"Kraft Foods already has a significant presence in the Asia Pacific Region, and Singapore is a natural choice for us to set up our regional headquarters because of its excellent infrastructure, business-friendly environment, and highly skilled workforce" said Mr. Arjun Gupta, President of Kraft Foods, Asia Pacific.
He added: "With large emerging economies such as China and India located in the region, Singapore is ideally situated for us to intensify our activities in Asia's booming consumer markets. A senior management team is based in Singapore to help Kraft chart and implement our programs to drive growth."
Broadly, Kraft's Asia Pacific strategy includes driving growth by focusing on developing countries like China, India, and Indonesia. It will also continue to introduce new products relevant to Asian consumers, build its brands, expand distribution, and develop talented local employees.
Mr Ko Kheng Hwa, Managing Director, Singapore Economic Development Board said, "As one of the world's largest processed food companies, Kraft's presence in Singapore has strengthened Singapore's position as a vital food hub. With its Asia Pacific headquarters in Singapore, Kraft is strategically located to tap into the region's agricultural abundance and fast growing consumer market for successful expansion."
Kraft Foods' presence in Asia-Pacific currently spans across numerous countries including Australia, China, Malaysia, Indonesia, Thailand, Vietnam, Hong Kong, Taiwan, India, Japan, Korea and New Zealand. It has 12 manufacturing plants across Southeast Asia, Greater China and Australia.
Some of its well-known brands in the region include Oreo cookies, Ritz crackers, Tang beverages, Toblerone chocolates, Vegemite yeast spread and of course, Kraft cheeses and Philadelphia cream cheese.
SOURCE: Kraft Foods