Gardenia to expand plant, cut bread prices

MANILA, Philippines - THE LOCAL subsidiary of bread multinational firm Gardenia International Pte. Ltd. is spending P700 million to expand its factory in Laguna.

Gardenia is hiring 360 more workers as it expands its bread plant in Laguna.

With the expansion, Gardenia Bakeries Philippines, Inc. seeks to more than double its daily production by mid-2009 to 250,000 loaves from 100,000.

The expansion will come as the bread company expects falling flour prices, which makes bread cheaper, to boost demand. Company officials Monday said they would cut bread prices today amid the continued flour price drop.

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