FERRERO ANNOUNCES OPENING OF SINGAPORE INNOVATION CENTER

Ferrero announces the official opening of the Ferrero Innovation Center in Singapore: the company’s first Asian innovation center located at the heart of one of the world’s leading innovation ecosystems.

The new center is designed to strengthen Ferrero’s position as global innovation leader and will house several strategic innovation functions in the areas of health and nutrition, new raw materials and product research and development, consumer insight and foresight activities.

At Ferrero’s innovation center, which has been supported by the Singapore Economic Development Board (EDB), a multidisciplinary team of experts in food science, biotechnology, nutrition, consumer insights, material science and design will engage with the vibrant Singapore ecosystem to foster the innovation process.

Ferrero Chief Executive Officer, Giovanni Ferrero, celebrating the opening of the new Ferrero innovation center commented: "Innovation has always been a core value for Ferrero. Our products are the result of a strong passion for quality and research. The Singapore innovation center will support Ferrero in its continuous pursuit of cutting edge technological solutions to offer our consumers the best quality products that provide always new taste dimensions”.

Chairman of the Singapore Economic Development Board, Dr Beh Swan Gin, said: “Ferrero’s decision to establish its first global Innovation Centre in Asia, in Singapore, reflects the significance of the rapidly expanding consumer markets in Asia, and underscores Singapore's position as the region’s leading food and nutrition hub. We look forward to having Ferrero work with partners in Singapore to develop unique product offerings.”

The decision to place the Ferrero Innovation Center in Singapore was motivated by its strategic location in Asia and its prominent role within the global scientific research community, which includes among others, the Agency for Science, Technology and Research (A*STAR) and relevant universities.
Singapore represents a dynamic and innovative environment where scientific talent and resources combine with diverse Asian consumer demographics. This offers an ideal platform for experimenting with novel technologies and raw materials with the aim to develop and test new products in a market of strategic importance for Ferrero.