SEOUL, April 15. /TASS/. Orion, the South Korean firm that produces Choco Pie cookies, is going to invest 240 bln won (about $168 mln) to expand its production in Russia’s Tver, the company said on its website.
Sales of the Russian branch were growing at a "double-digit" pace over the last six years, Orion said. "The plant is operating at over 120% of its capacity, but this is still not enough to meet demand for the Choco Pie. So we decided to build a new production facility at the plant in Tver," the company informed. The plant was put into operation in 2022.
"Total investments amount to 240 bln won (about $168 mln); sixteen new cookies, snacks and jelly lines will be added," the company said.
According to estimates, Russia accounts for about 40% of Orion’s chocolate cookies sales globally.