NEW YORK (AP) -- Kraft Foods Inc. said Thursday that it plans on making a 15 million euro ($22.2 million) investment into a new biscuit research and development center in France.
The food company said the plant will concentrate on innovation and new product development for European brands such as LU, Mikado, Oreo, Prince, Saiwa and TUC.
A group of researchers, product and packaging developers and nutritionists will move from a leased facility in a nearby town to the new plant when it opens in the first half of 2011.
Last month, Kraft made a $16.7 billion offer to buy Cadbury PLC that was rebuffed by the U.K. confectionary company.
Shares of Kraft Foods, known for brands like Velveeta and Maxwell House coffee, added 6 cents to $26.11 in morning trading.
