Gruma to build maize flour mill, tortilla plant in China

by Emily Buckley
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MEXICO CITY, MEXICO — Gruma S.A. de C.V. plans to invest U.S.$20 million in the construction of a maize flour and tortilla plant in China, according to a market report by Valores Finamex, S.A. de C.V., the Mexico City investment banking subsidiary of Grupo Financiero Finamex. Gruma expects to complete the plant in 2004, Finamex said.

The plant would be the first in Asia for Gruma, the world’s largest maize flour miller. The company currently has maize milling and/or tortilla operations in Mexico, the United States, the United Kingdom, Costa Rica and Venezuela.