Hershey, Barry Callebaut in supply deal |
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Thu, 26 Apr 2007 18:39
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NEW YORK (AP) - The Hershey Co. and Swiss chocolate maker Barry Callebaut on Thursday said they formed a supply partnership.Under the agreement, Barry Callebaut will build and operate a facility that will produce chocolate for Hershey's new plant in Monterrey, Mexico. Barry Callebaut will also lease a portion of Hershey's Robinson, Ill., plant.The partnership also calls for Barry Callebaut to supply Hershey with a minimum of 80,000 tonnes per year of chocolate and chocolate products.Over the next three years, Barry Callebaut's production capacities will increase in the Americas by 130,000 tonnes per year. The total cost for the company will be about $50 million.Shares of Hershey Co. fell 32 cents to $54.79 in midday trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Barry Callebaut to supply a minimum of 80,000 tons of chocolate/year to Hershey 