Monterrey, Oct 30 - Mexican tortilla maker Gruma expects to open a plant in Japan next year as part of its announced $1 billion expansion in Asia, company President Roberto Gonzalez said on Monday.
Gruma is the world's largest producer of corn-based flour and tortillas. In March, it outlined an ambitious five-year expansion plan in Asia, and has since opened a new plant in China and announced plans for one in Russia.
The plant in Japan will not cost the company more than $100 million, Gonzalez said.
He added that the company expects to spend more than $400 million on expanding the business in the coming year.
Gonzalez has mentioned India and Africa as other areas where Gruma might expand its presence. It currently serves Japan, Korea, Singapore, Hong Kong, the Philippines, Taiwan and other countries in Asia out of the Chinese plant.
Gruma is the main tortilla provider for U.S.-based fast food chain Taco Bell and retailer Wal-Mart Stores Inc., both of which are expanding in Asia.
Gruma has plants in Mexico, Central America, Venezuela, Britain, Italy, China and the United States.