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. Last Updated: 07/27/2016

Kraft Puts $100M in Coffee

Kraft Foods said it would invest more than $100 million in its Russian coffee plant until 2015 to double production and meet growing demand for the beverage in the fast-growing market.

The move comes a week after Nestle, the world's biggest food group, completed an extension of its Krasnodar region coffee plant, which now has become its biggest soluble coffee factory in Europe.

Kraft, maker of Jacobs and Maxwell House coffee brands, said the plant would boost coffee production to 16,900 tons in 2013 and to 23,000 tons by 2015, compared with the current output of 10,500 tons a year. Since 2000, the company has invested more than $150 million in the factory located in the Leningrad region.

(Reuters)