Prominent snack company Mondelez International will bring its chewing gum production plant to Turkey this year, its country manager said Wednesday.
Ihsan Karagöz said the multinational company will relocate its plant from France, in a sign of growing confidence in the Turkish economy.
"Production in Turkey will be an important step for sales in Europe," he added.
Karagöz said the company is expected to increase exports by 22 million Turkish liras ($5.5 million) through this move.
He added that the relocation will produce 1,200 tons of chewing gum, a nine percent increase.
The company aims to invest 42 million liras ($10.5 million) in 2018, Karagöz said.
In the last six years, the company has invested 200 million liras ($82.5 million), he noted.
He also said export volume of Mondelez International Turkey stood at 220 million liras ($60.2 million) in 2017, up 56 percent compared to 2016.
The largest import item is Sour Patch Kids with 9,200 tons to the U.S., followed by Halls to the U.K., and Love Is to Russia, Karagöz explained.
Mondelez, best known by its international brands of Milka, Oreo and Toblerone, was created in 2012 by its parent company Kraft Foods after purchasing confectionary giant Cadbury in 2010. Cadbury had bought the majority of Turkish confectionary firm Kent Gıda in 2002 and leading gum producer Intergum in 2007, establishing a strong presence in Turkish market.
